Can you deduct commission paid when selling a home?

Forum|Forum|7 years ago
June 3, 2019
3 replies
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TurboTax Deluxe Online

null725

Level 13

You can include that as a cost of sale, and that reduces your profit. It is not separately deductible.
You report the Sale of a personal residence at:
Federal Taxes
Wages & Income
choose I'll choose what I work on, if asked OR Jump to Full List
Scroll down to
Less Common Income
on the
Sale of Home line, click start or update
then enter the necessary information in response to the interview

Alberto5

Level 2

are there any cost that I can deduct when buying a home?

JohnW152

Level 15

There aren't any deductions you can take from the act of buying a house, itself.

However, you are able to deduct mortgage interest payments and property taxes, if you itemize deductions.

Please see the TurboTax Help article “Tax Deduction Wisdom—Should You Itemize?” for guidance on whether or not you'll be able to benefit by itemizing.