How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barbara Lamar Your Own Question
Barbara Lamar
Barbara Lamar, Tax Lawyer, CPA
Category: Tax
Satisfied Customers: 188
Experience:  JD, MBA University of Texas at Austin, over 18 years representing small businesses
Type Your Tax Question Here...
Barbara Lamar is online now
A new question is answered every 9 seconds

Real estate commissions

This answer was rated:

Are real estate commissions paid tax deductible?
If they're paid in connection with the sale of your home or other personal-use property they are not deductible, although they do reduce the amount of any gain you might have.

If they're paid in connection with a business or investment, they may or may not be deductible. If the real estate being sold is a capital asset, the commission will reduce any gain your might have or increase any loss. If you were, say, in the business of selling real estate, the commissions could be deductible as a "cost of goods sold."
Barbara Lamar and other Tax Specialists are ready to help you