Quote:
Originally Posted by Hank Chinaski
space fuck- I meant assume this is a rental property, can I deduct realtor fees (i have a buyer's broker) or treat this as an expense against profits? also, assume I pay some closing fees- any tax relief?
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Realtor fees are more likely than not going to have to be added to the basis of the property and won't be deducted, but will be used to offset gain/increase loss on the sale of the property.
If the fees are financing related, then they are amortized over the life of the mortgage unless you pay them upfront with cash out of pocket, in which case they are deductible.
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