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Helen Merzon,  in Brooklyn, NY

is sellers concession taxable?

Asked by Helen Merzon, Brooklyn, NY Mon Jun 29, 2009

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The best way is in fact to check with your accountant, but the concession is not taxable. In fact as I understand it it is a deduction because it is added to the basis of the asset when calculating the capital gain.
0 votes Thank Flag Link Tue Jun 30, 2009
Hi Helen,

I would ask your tax consultant. They would have the right answer for you.

Best of luck,

Nancy
0 votes Thank Flag Link Mon Jun 29, 2009
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