View Full Version : Broker fees
knris
Mar 25, 2007, 06:04 PM
Can I write off the broker fees that I paid when I refinanced my house? If so were do I deduct them at?
jaynen76
Mar 25, 2007, 06:17 PM
Depends on if it were your primary residence or an investment property and how you paid him. This gets very tricky. If you paid him in the traditional fashion via escrow, then probably not. If it were an investment property, you could have written it off on a schedule C (assuming 1040) under commssions; again, depending on how you paid him.
delite
Mar 25, 2007, 06:23 PM
Can I write off the broker fees that I paid when i refinanced my house? If so were do i deduct them at?
Broker fees should be capitalized as part of the cost of residence. In general it is a personal expense.
AtlantaTaxExpert
Mar 29, 2007, 10:54 AM
Agreed! The broker fees are a personal expenses and CANNOT be deducted on the 2006 tax return.