Can I deduct my 5% commission fee to my real estate agent on the sale of my rental property/former primary residence?

[elginbooth]

I sold my rental property/former primary residence for $152,000 and paid my real estate agent a 5% commission of $7,600 on the sale. Can I deduct that $7,600 on my taxes to lower my potential gain? If so, where and how would that be deducted?

[ToddL]

Yes, you can deduct real estate commissions paid for the sale of your rental property.

They are entered as selling expenses in the Assets interview, after you report that the property has been sold

See the attached sample screenshots of this interview screen. In TurboTax Premier, the Rental Properties & Royalties interview is found under Federal > Wages & Income

[elginbooth]

ToddL, thank you. I use TurboTax Premier, can you show me where to enter the selling expenses? The sample screenshot above is for a different version of TurboTax.

[ToddL]

Done!