Blackster
Sep 25, 2009, 03:52 PM
What is the accounting for selling expenses associated with the sale of real property such as broker's commission, title fees, escrow fees, etc? I have a loss on the sale of this property before these fees (sales price less NBV of property). Do I post these expenses to the loss on sale of asset account or to an operating account such as commission expense? I am not in the real estate business - this property was a rental.