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

Comments(3)

  • finniganps23rd December, 2005

    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.

  • NewKidInTown323rd December, 2005

    Miscellaneous Expenses subject to the 2% rule

  • Taxivestor23rd December, 2005

    ty

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