is sellers concession taxable?

Helen Merzon
Helen Merzon
Builder/Developer
Brooklyn, NY

Mon Jun 29 2009, 06:49 - Home Selling in Bronx - 2 answers
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Manuel Pantiga
Manuel Pantiga
Broker
Bronx, NY

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.

Tue Jun 30 2009, 19:17
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Nancy Day
Nancy Day
Agent
Leominster, MA
FIRST ANSWER

Hi Helen,

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

Best of luck,

Nancy

Mon Jun 29 2009, 07:32
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