Sentences with phrase «deduct real estate commission»
You will have to deduct real estate commission and state / federal capital gains taxes.
https://www.biggerpockets.com/ Not exact matches
When filing taxes, landlords renting out a part of their primary residence can deduct a portion of their expenses related to the rental unit, but those renting out an entirely separate income property can deduct even more — both capital expenses (renovations and real estate commissions) and current expenses (insurance and interest).
However, I'd also be inclined to deduct a notional real estate commission from that price — whatever is normal and customary as far as a percentage where you live.
Selling costs like real estate commissions and legal fees would be deducted from the proceeds.
Selling costs: «You can deduct any costs associated with selling the home — including legal fees, escrow fees, advertising costs, and real estate agent commissions,» says Joshua Zimmelman, president of Westwood Tax and Consulting in Rockville Center, NY.