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Employee
June 6, 2019
Solved

I sold my rental property in 2018, Can I deduct from sale price the closing costs that I paid for the buyer as a "sales expense" of the home sale? give ex of item

  • June 6, 2019
  • 1 reply
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I sold my rental home in 2018, Can I deduct from the sale price the closing costs that I paid for the buyer as a "sales expense" of the home sale? for example:

commission, seller contributions money for buyer for finance, document prepared fees, title escrow fee, owner's title insurance, home warranty. 

Thank you very much for your help!  my email [email address removed]

 

 

Best answer by JulieR

Yes. Sales expenses include:

 - commissions

 - appraisal fees

 - broker's fees

 - legal fees

 - advertising fees

 - home inspection reports

 - title insurance

 - transfer taxes or fees

 - geological surveys

 - loan charges (points) or other fees paid on the buyer's behalf

1 reply

JulieRAnswer
June 6, 2019

Yes. Sales expenses include:

 - commissions

 - appraisal fees

 - broker's fees

 - legal fees

 - advertising fees

 - home inspection reports

 - title insurance

 - transfer taxes or fees

 - geological surveys

 - loan charges (points) or other fees paid on the buyer's behalf

ttran28Author
Employee
June 6, 2019
Thank you very much!