Capital Gains and Losses
Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP
Hi, You would take the purchase price that you bought the house for in 2009. Next you would add any improvements. Finally you would add any selling costs to get the house ready for sale. You would take this total and divide it by half. This would be your cost basis. You would also include half of the selling costs such as commission and the additional closing costs.
Next you would divide the sales price by 1/2. Please let me know if you have any questions or need clarification.
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Do you have access to the closing documents from the purchase in 2009?