We bought a short sale home for our permanent residence. We paid 10K designated to the sellers attorney that handled the short sale. Is this deductible?
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1 Best answer
KarenL2
Level 5
Jun 4, 2019 1:49:09 PM
Unfortunately, it's not currently deductible. However, it can be added to your cost basis to reduce any potential capital gains when you later sell the home.
2 Replies
KarenL2
Level 5
Jun 4, 2019 1:49:09 PM
Unfortunately, it's not currently deductible. However, it can be added to your cost basis to reduce any potential capital gains when you later sell the home.