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Subject:  deductability of fixing-up expenses? Date:  3/29/2000  3:06 PM
Author:  rebcmb Number:  32947 of 127616

We just sold our principal residence (of 28 years!) at a healthy profit and will use the $500,000 exclusion. Can I still use fixing -up expenses as part of the selling expenses, which are deducted from the selling price? Also, can I add as part of the adjusted basis those closing costs associated with refinancing specifically done for the purpose of additions/remodelling of the home?

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