Solved: Is New Mexico GST on realtor fees deductible as an additional deduction over and above the federal guidelines based on income

Is New Mexico GST on realtor fees deductible as an additional deduction over and above the federal guidelines based on income

I sold my second home and paid New Mexico GST on the real estate commission.

Is the GST deductible as an additional sales tax deduction as you would do with a sales tax attributable to a car?

posted

No. The sales tax on the real estate commission is not deductible--it applies to purchase of personal property.

You can, however, include the sales tax paid on the commission as part of the selling expenses of the home.

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No. The sales tax on the real estate commission is not deductible--it applies to purchase of personal property.

You can, however, include the sales tax paid on the commission as part of the selling expenses of the home.

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

Is New Mexico GST on realtor fees deductible as an additional deduction over and above the federal guidelines based on income