What Is a Gain on Selling a House?

A lot of expenses and costs associated with both buying and selling the house could be deductible. You should ideally have receipts for all this because that's a substantiated proof if you want to question, but you know, this is called your quote unquote basis. So there's lots of ways legal ways in which the ultimate gain you're going to potentially haveyour house is much smaller than just simply sales price minus original purchase price.