Can we deduct those realtor fees? We attempted to sell our main home in 2016, but it didn't sell. We reimbursed our realtor $500 for the costs that he incurred.
Can we deduct those realtor fees and if so, where within TurboTax can we do so? We attempted to sell our main home in 2016, but the home didn't sell so we took it off of the market. We reimbursed our realtor $500 for the costs that he incurred to put our house on the market.
Can we deduct those realtor fees? We attempted to sell our main home in 2016, but it didn't sell. We reimbursed our realtor $500 for the costs that he incurred.
No, unfortunately those fees are a non-deductible expense.
Should you sell the home in the future, Those Realtor fees can be added to the basis of your home in figuring any gain or loss.