Quela,who is single,sells her principal residence which she has owned and occupied for 8 years.Prior to the sale,she made certain repairs to the house.In addition,she incurred realtor's commissions and attorney fees associated with the sale.Quela can reduce the amount realized by the cost of the repairs,the realtor's commission,and the attorney's fee.

Question

Quizplus · Accepted Answer

The amount realized from the sale of a principal residence can be reduced by selling expenses like realtor's commissions and attorney fees, but not by the cost of repairs made prior to the sale.

Quela,who Is Single,sells Her Principal Residence Which She Has Owned