What sales expenses that were paid by the seller can be included when completing the 1099B when reporting proceeds from the sell of an Inherited Home. These fees were not deducted from the gross proceeds reported on the 1099S I received. As the seller we paid all of the following expenses at closing but not sure which of these can be reported as "Sales Expenses" in Turbo Tax reducing capital gains.
Points
Commissions
Doc Prep Fees
Property Taxes Owed
Title Fees
Recording fees
You'll need to sign in or create an account to connect with an expert.
All of these can be deducted as "Sales Expenses" since the money did not come to you and you are not deducting them anywhere else (this is particularly in reference to the property taxes).
All of these can be deducted as "Sales Expenses" since the money did not come to you and you are not deducting them anywhere else (this is particularly in reference to the property taxes).
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
judis110
New Member
dmenikas
New Member
ldaflac
Level 2
mjckhc
Returning Member
tammie_bartkowiak
New Member