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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How to report closing expenses on sale of property?

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

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Intuit Approved!

How to report closing expenses on sale of property?

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

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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