It depends. It sounds like that may be property taxes which are only deductible as an itemized deduction on Schedule A. However if they are transfer taxes then they would be considered a selling expense. The following items can be included in selling expenses (not all inclusive):
- Real estate commissions
- Transfer tax
- Legal fees
- Advertising fees
- Home inspection reports
- Title insurance
- Geological surveys
- Loan charges (points) or other fees paid on the buyer's behalf
Sales expenses do not include:
- Mortgage payoffs
- Home equity loan payoffs
- Rent-back costs
- Payoff to creditors
- Property taxes
- Home owner association fees
@ha-diane79
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