cuantoes
New Member

Deductions & credits

The concession will be added to the purchase price so buyer can cover closing costs as they are short on cash. For example, the home is worth 250K but the mortgage buyer will obtain is 300K (if appraised at that amount). I will get only 250K. Can the 50K concession be added to the Adjusted Basis so I don't have to pay capital gain tax on that amount?