It depends. Instead of listing these as expenses of rental property, it is handled a little differently. Here is the menu path you will follow:
- Wages and income
- Other Business information
- Sales of Business Property>Start
- Next screen, indicate this is Sales of Business Property>yes
- Next screen will read Sales of Business or Rental Property
- In this screen, you will report real estate commissions as a Cost of Property plus expenses of sales.
In addition to reporting real estate commissions as expenses, you may also deduct other selling expenses such as::
- Advertising Expenses
- Legal Fees
- Broker Fees
- Transfer taxes
[Edited 01-24-2021|02:55 PST]
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