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Level 1
posted Jun 5, 2019 3:17:27 PM

I bought a rental property recently in China. I was wondering whether the transaction tax is deductible as rental expenses. Thanks!

I bought a rental property recently in China. I was wondering whether the transaction tax is deductible as rental expenses. Thanks!

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1 Best answer
Level 15
Jun 5, 2019 3:17:28 PM

The transaction tax paid in China is part of the cost of acquiring the property and gets added to the cost basis.  It then become deductible through depreciation.  

2 Replies
Level 15
Jun 5, 2019 3:17:28 PM

The transaction tax paid in China is part of the cost of acquiring the property and gets added to the cost basis.  It then become deductible through depreciation.  

Level 1
Jun 5, 2019 3:17:29 PM

thanks!!