How Poor Recordkeeping After a Home Sale Can Create Tax Problems

Illustration of a sold home, missing receipts, tax paperwork, and audit risk after poor recordkeeping following a home sale

Selling a home feels like a finish line. You close. You move on. You deposit the money. You tell yourself you will organize the paperwork later. And then tax season shows up. That is usually where the trouble starts. A lot of high-income earners assume a home sale is simple. Maybe the gain is excluded.…

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