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davidsh16
New Member

I sold my property less than two years of owning it. Can I deduct real estate agent's commission from the penalty tax I have to pay?

 
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IsabellaG
Employee Tax Expert

I sold my property less than two years of owning it. Can I deduct real estate agent's commission from the penalty tax I have to pay?

Yes, the real estate agent's commission does count as an expense of sale, and does reduce the gain on the sale of your property.

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IsabellaG
Employee Tax Expert

I sold my property less than two years of owning it. Can I deduct real estate agent's commission from the penalty tax I have to pay?

Yes, the real estate agent's commission does count as an expense of sale, and does reduce the gain on the sale of your property.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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