Would the WA REET be considered a transfer tax? In IRS Pub 530, regarding non-deductible real estate taxes, it does state this:
"Transfer taxes (or stamp taxes). You can't deduct transfer taxes and similar taxes and charges on the sale of a personal home. If you are the buyer and you pay them, include them in the cost basis of the property. If you are the seller and you pay them, they are expenses of the sale and reduce the amount realized on the sale."
I would think that it is a transfer tax as it come into play for any sale or transfer of controlling interest of real estate?
