Don’t Let Sellers Leave Tax Breaks on the Table

Remind sellers to check with their economic advisers about tax deductions they’re eligible for in a dwelling sale. 1 of the probably huge kinds: offering prices.

CHICAGO – Remind sellers to check with their economic advisers about tax deductions they’re eligible for in a dwelling sale. 1 of the huge kinds they may well qualify for: offering prices. As prolonged as a charge is immediately tied to the sale of a dwelling, it qualifies for tax breaks.

Also, sellers who have lived in their dwelling as their principal home for at the very least two out of the 5 a long time prior to offering it can gain tax pros. “You can deduct any prices associated with offering the dwelling – like legal charges, escrow charges, advertising prices and authentic estate agent commissions,” claims Joshua Zimmelman, president of Westwood Tax and Consulting in Rockville Heart, N.Y.

But tax specialists say

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