Review Of Cost Basis Home Sales Before 1997 References. Which method would produce the best tax results?. Assuming that the johnsons sold their house during the 1997 effective period under the transitional rule, the question then is:

Some of these expenses include: If you financed the purchase of the house by obtaining a mortgage, include the mortgage. Cases, if your gain from a sale after may 6, 1997, is not more than $250,000 ($500,000 on most joint returns), you will not have to pay tax on any of the gain.





