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gjfeuer
New Member

My employer paid my RE fees when selling my home in another state. They grossed up income and I paid taxes on it. Can I deduct the RE expenses to offset capital gains?

My company paid all my real estate commissions and fees when they relocated.  Because I was in the home less 24 months and was in the LAST home we owned less than 24 months we may some capital gains.  

They grossed it all up on my W2... something to the tune $50K and I will owe taxes on it.   Can I then deduct real estate commissions off of my home sale?  

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Accepted Solutions
DDollar
Expert Alumni

My employer paid my RE fees when selling my home in another state. They grossed up income and I paid taxes on it. Can I deduct the RE expenses to offset capital gains?

No, If your company paid your real estate commissions, and the grossed up your income, that should have covered any additional income tax you had to pay.  Since your company paid the commissions, you cannot deduct them - you didn't pay them.

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1 Reply
DDollar
Expert Alumni

My employer paid my RE fees when selling my home in another state. They grossed up income and I paid taxes on it. Can I deduct the RE expenses to offset capital gains?

No, If your company paid your real estate commissions, and the grossed up your income, that should have covered any additional income tax you had to pay.  Since your company paid the commissions, you cannot deduct them - you didn't pay them.

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