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Level 2
posted Mar 1, 2024 9:50:22 AM

How to report closing expenses on sale of property?

Hi

 

I sold a property in 2023. When I received a closing statement from the escrow company, all the expense included on the sale( seller credit, commission- listing and selling agent, escrow fee etc. ) do I includes all these fees in the in the Sale of property/ Depreciation section , or the Expense section, or both?

 

Thank you

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1 Best answer
Expert Alumni
Mar 1, 2024 12:47:14 PM

Those are the costs of the sale.  Include them in the sale of property section under 'Expense of Sale'.

 

@Dan2023a 

1 Replies
Expert Alumni
Mar 1, 2024 12:47:14 PM

Those are the costs of the sale.  Include them in the sale of property section under 'Expense of Sale'.

 

@Dan2023a