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sjs888jke6116
New Member

Can I deduct the realtor fees from the sale of inherited property

 
3 Replies
KarenL2
Level 5

Can I deduct the realtor fees from the sale of inherited property


Yes.  It can be added to Sales Expenses to reduce any potential capital gain.

Sales expenses are listed in the sellers column of your settlement statement and include:

  • commissions
  • appraisal fees
  • broker's fees
  • legal fees
  • advertising fees
  • home inspection reports
  • title insurance
  • transfer taxes or fees
  • geological surveys
  • loan charges (points) or other fees paid on the buyer's behalf
  • any fees for a service that helped you sell your home without a broker (listing fees, promotional fliers, etc.) 

Sales expenses do not include:

  • mortgage payoffs
  • home equity loan payoffs
  • rent-back costs
  • payoff to creditors
  • property taxes
  • home owner association fees


sstclaire
New Member

Can I deduct the realtor fees from the sale of inherited property

I have been trying to get ahold of someone - it won't let me do something and I know not what but I have to get my taxes filed, will someone please call me 

JotikaT2
Expert Alumni

Can I deduct the realtor fees from the sale of inherited property

We cannot contact you here as this is a public forum.  If you have a specific question, please comment so we can assist you.

 

Otherwise, you can use the link below to contact us.

 

Contact TurboTax

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