Solved: I backed out of a home sale contract and had to pay around $8,000 to get out of the contract to the seller, attorney, and realtor. Can I deduct any of that?
I backed out of a home sale contract and had to pay around $8,000 to get out of the contract to the seller, attorney, and realtor. Can I deduct any of that?
We paid $1000 in earnest to the seller, $3500 in damages (rent they could have collected), $1200 in attorney fees for prepping closing documents but not closing, $1500 to the realtor for commission he would have earned, $475 in appraissal fees, and $375 in inspection fees. Can any of this be deducted?
I backed out of a home sale contract and had to pay around $8,000 to get out of the contract to the seller, attorney, and realtor. Can I deduct any of that?
No, the expenses of canceling a home purchase are not tax-deductible.
I backed out of a home sale contract and had to pay around $8,000 to get out of the contract to the seller, attorney, and realtor. Can I deduct any of that?
No, the expenses of canceling a home purchase are not tax-deductible.
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