topic In Pennsylvania you pay a transfer tax when you buy or sell a home. Is that deductible on federal taxes? If so, is it a sales tax or a real estate tax? in Deductions & credits

In Pennsylvania you pay a transfer tax when you buy or sell a home. Is that deductible on federal taxes? If so, is it a sales tax or a real estate tax?

kaplan1886 — Thu, 06 Jun 2019 05:33:28 GMT

No , you cannot deduct county transfer taxes that you pai...

HelenaC — Thu, 06 Jun 2019 05:33:29 GMT

No , you cannot deduct county transfer taxes that you paid when you bought or sold your home, on your Federal Income Tax Return.

Per IRS Tax Topic 503 - Deductible Taxes :Some taxes and fees you cannot deduct on Schedule A include federal income taxes, social security taxes, transfer taxes (or stamp taxes) on the sale of property, homeowner's association fees, estate and inheritance taxes, and service charges for water, sewer, or trash collection.

Re: In Pennsylvania you pay a transfer tax when you buy or sell a home. Is that deductible on federal taxes? If so, is it a sales tax or a real estate tax?

jmorris199900 — Thu, 14 Apr 2022 22:29:50 GMT

Yes, Opinion based on Supreme Court Decision on Obama Health Care taxation. The rule was a Tax is a Tax whatever else it's called, even Government Healthcare contribution is a Tax.