turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

katroy
New Member

What are transfer or stamp taxes?

on my rental property i purchased it lists "transfer or stamp taxes"   what are these?
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
jack13
New Member

What are transfer or stamp taxes?

My Grant Deed shows, "Documentary Transfer Tax" and "City Transfer Tax."  Are either of these tax deductible?
PandoraS
New Member

What are transfer or stamp taxes?

A transfer/stamp tax is essentially a transaction fee imposed on the transfer of title to property.

Transfer taxes are not considered deductible real estate taxes. 

What are transfer or stamp taxes?

Unless the taxpayor is a Real Estate Dealer, then all real estate purchase and sale related expenses are tax deductible during the course of business.

What are transfer or stamp taxes?

I have City/County Tax Stamps to County and State transfer tax to Clerk of the circuit court. Which one should I used?

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies