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

[Jun8]

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

[MichaelL1 · Accepted solution]

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.  

[Jun8]

thanks!!