Tax Question For Cash Back At Closing
Hi,
If I were to sell a property for $300K and give the buyer a credit at close for $10K, is that $10K tax deductible at tax time along with my closing costs and other RE fees?
Thanks
BUMP?
Much thanks!
Now I can sleep tonight
Just make sure the 10k is listed on your HUD statement at closing so the documents support your transaction.
Is that the same as the sales contract addendum?
Is the 10k already written in the contract you gave the title company to process?