Question re capital gains on sale of primary residence

[jon-nyc]

When computing the capital gain, are you allowed to subtract selling costs such as broker commission, state/city transfer tax, attorney fee, etc?

[pshonore]

Yes, those will increase your basis (and reduce profit/gain). Don't forget to take the similar fees you paid when you purchased the property. (assuming of course, you have the records and did not deduct them previously.)

[HouseStark]

The IRS Pub explains the important details:
http://www.irs.gov/uac/Publication-523, ... our-Home-1

[Toons]

Yes

http://www.ehow.com/about_5447420_tax-d ... -home.html

[jon-nyc]

Thanks, all.