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Can we deduct the real estate agent sales commission on the sale of our old house due to a job related move to another home and if so where on the forms is this reported?

 
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1 Reply
JaimeG
New Member

Can we deduct the real estate agent sales commission on the sale of our old house due to a job related move to another home and if so where on the forms is this reported?

If the sale of your main home did not produce a profit of more than $250,000.00 you do not have to report a Capital Gain from this sale. If this is the case, you cannot use the expense of Realtor Commissions elsewhere since you have already received the benefit of a Tax Deferred Sale. 

If you did produce a profit of more than $250,0000.00 on this sale, the amount of Realtor Commissions will be and expense of the Sale becoming a factor in determining your Profit. Basically this will help reduce your Profit, therefore reducing your Tax Liability. Once again, the is the tax benefit from this expense, therefore it is not placed anywhere else on your return. 

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