Realtor

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Property Management

Advice

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If when selling I give someone seller's assist, can I deduct that on my taxes?

Answer

I feel the answer is NO.A transaction with seller assist simply adjusts your net selling price on the HUD and that should have no bearing on tax implications. If you simply sold the house for that same net amount without the assist there would be no tax benefit good/bad.With seller assist in a transaction you can insist that the commission be based on the net selling price after the assist and there may be transfer tax implications that could add up depending on the size of the assist.You must consult a tax professional to review this question.Mike Godley

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