Real Estate Commission
can anyone tell me if the 6% real estate commission that I paid when I sold my house ( primary residence)
is a deductable expense on the Schedule A ? Are any of the associated closing costs deductable as well ? Please advise ,, Thank you
is a deductable expense on the Schedule A ? Are any of the associated closing costs deductable as well ? Please advise ,, Thank you
Comments(0)
The 6% commission is not deductible. It is a reduction of your sales price for purposes of calculating your taxable gain on sale (if any). The only costs that are likely to be deductible on your tax returns are property taxes and mortgage interest - these should be listed on the HUD statement that you signed and received a copy of at or after closing.
Miscellaneous Expenses subject to the 2% rule
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