What is the name of your state?
Indiana
I am selling a rental property, and will have capital gains. I have owner it since 2001, and have taken depreciation on my taxes.
I am a real estate broker and sold this to my tenant, so I have to pay no other broker a fee.
My question is at closing should I pay my real estate company 7% as an expense of selling the property. It would eliminate 43% of the capital gain.
Joe
Indiana
I am selling a rental property, and will have capital gains. I have owner it since 2001, and have taken depreciation on my taxes.
I am a real estate broker and sold this to my tenant, so I have to pay no other broker a fee.
My question is at closing should I pay my real estate company 7% as an expense of selling the property. It would eliminate 43% of the capital gain.
Joe