Deductible home selling costs

SteveB · #1 (**permalink**) 02-16-2009, 01:58 PM

We sold our primary home in 08. Of all the selling fees which ones are deductible?

Commissions
Title Chargers
Government Recording and Transfer Chargers
Home Warranty

Where would you enter them in the federal tax forms?

TaxGuru · #2 (**permalink**) 02-17-2009, 10:15 PM

The Commissions, Title Chargers and Recording & Transfer Chargers are all reported as part of Selling Expenses and reported as part of the cost basis on Schedule D. The transaction is treated as a sale of a capital asset and so you have to enter the sale date, acquisition date along with the original cost, selling price and expense of the sale.