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Updated almost 9 years ago,
Sale of Inherited Parents House
My brother and I inherited my mothers home in December of 2014 and sold one year later in December 2015. We did not live in the house but it took us a year to clean out the house and basement. We had an appraisal done after their death and house appraised for $72,000 and we sold for $70,000. We had to pay $3000 in sellers concessions and other sellers expenses including commission added up to $6731 for total expenses of $9731. Can these expenses be divided and added to our cost basis for a loss?