Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121100  
Subject: Selling Expenses Date: 4/12/2013 1:02 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I am receiving unsolicited and I believe bad advice. I am not likely to tax advice from someone who has had their checking account attached by the IRS and had an IRS agent come to their home.

Fees for the real estate agent and fees/taxes that are on the closing statement are easy. They are clearly expenses related to the sale, and should be deductible.

Real estate taxes are paid through the end of the year, and were deducted on 2012 taxes. The due date is pasted. It wasn't an option to not pay the real estate taxes before selling. There will be some repayment of the real estate taxes, which I expect to be taxable.

I don't believe that miscellaneous repairs that are routine maintenance are deductible (replacing a failed outlet, damaged clips on a set of blinds, and other routine repairs.)

Other expenses:
1.) Carpet
2.) Paint
3.) Furnace
Needs repair, but replacement might be necessary
4.) Replacing a screen door
(It needs a small part, but I don't know if we can find it.)
5.) Professional cleaning before an open house
6.) Plants and front yard clean up
The front yard will need a quick make-over for listing: some new plants, removing a couple of uncooperative shrubs, and bark
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement