Vanessa A
Expert Alumni

Deductions & credits

If the property is acquired, then the buyers premium would be added to the cost basis of the property for when you sell it.  This would not be reflected on your tax return until you sell the house.  It would then decrease your taxable income on the sale of the property.

 

Are there times you are not getting the property but still paying the premium?

 

Are you in the business of buying and selling properties?

 

Was this a one time deal?

 

 

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