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Mammee
Mammee asked in Business & FinanceRenting & Real Estate · 5 years ago

the sale of a second home?

I have sold a second home that I owned for 9 years and was only used for personal use for a get away. what is deducted from taxes as far as fee to attorney and realtor fees and taxes? Also we had to make repairs that required by lender to get it sold are those deductable. IN addition 3 years ago we but on a new roof and new central heat and air. The house was never rented to anyone either only used for personal use.

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  • coraann
    Lv 7
    5 years ago

    There will be capitol gains to pay, as it was a second home.

  • Judy
    Lv 7
    5 years ago

    Realtor fee, and attorney fee if to handle the legal aspects of he sale of the home, are deductible from the profit before tax is calculated, not from the tax. Taxes sand repairss are not.

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