Carl
Level 15

Investors & landlords

I sold a house to Opendoor and on the closing statement, I have to credit or give $35,000 to Opendoor for the future repair of that house. It is part of the deal. Can I deduct this amount on my tax return 2022?

Depending on how things are setup/worded, it seems rather simple to me.  It sounds to me like you would just reduce your sales price by $35K.