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Is a rental property seller credit considered a part of selling expenses when calculating gain or loss of a sale?
I sold my rental townhome in 2019 and gave the buyer a seller credit of 3% ($6,600), as listed on the closing statement. The 1099S reported only the gross proceeds of the sale ($220,000). Can I include this amount as a selling expense, to be added to my cost basis, in calculating gain or loss? Thank you.
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March 19, 2020
10:17 AM