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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

Accepted Solutions
RobertB4444
Expert Alumni

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'.

 

@Dan2023a 

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1 Reply
RobertB4444
Expert Alumni

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'.

 

@Dan2023a 

**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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