- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can I deduct realtor commission for farm land sold in 2019 to prevent paying capital gains taxes on $280,000?
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can I deduct realtor commission for farm land sold in 2019 to prevent paying capital gains taxes on $280,000?
Yes, whenever you have an asset sale you can deduct the closing costs and other fees/commissions paid that were incurred to sell the asset.
It will reduce the profit made on the sale.
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can I deduct realtor commission for farm land sold in 2019 to prevent paying capital gains taxes on $280,000?
Yes, whenever you have an asset sale you can deduct the closing costs and other fees/commissions paid that were incurred to sell the asset.
It will reduce the profit made on the sale.
Still have questions?
Make a post
Or browse the Forums