selling home, form 8949 column E or G improvements?
so I have a 2nd, vacation home I sold and made a bit of money. to the tune of $130k if I go with the gross selling price subtracting the buy price. However, I had to pay the realtor $12,000 to sell the house in commission, and I redid most of the house, new kitchen, bathrooms, carpeting, even the furniture that I bought and was included int the sale. How do I get credit for these expenses and where do they go in the form:
for the record:
realtors fee: $12,000
new kitchen: 25,000
bathrooms: 25,000
carpeting: 4,000
furniture 10,000
ref:
from the instructions of form 8949 column E:
Adjustments to basis. Before you can figure any gain or loss on a sale, exchange, or other disposition of property, you usually must make certain adjustments (increases and decreases) to the basis of the property. Increase the basis of your property by capital improvements.