I sold my Condo for $98,000.00 and gave back as a Seller's credit $2000.00. Is it an items I can list as a selling expense?
You can deduct from the selling price the $2,000 credit you allowed to the buyer.
Most but not all of the
closing costs are selling expenses for your condo, click here for
IRS publication 523 Selling Your Home
to see the IRS chart of what costs are included as a selling expense. Generally,
you can deduct most costs you pay, except
for real estate taxes
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