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jayster0726
Sep 10, 2016, 06:44 PM
I'm selling a home giving buyer 11000 in concession . Will that be considered capital gain since I'm increasing the price of the house by 11, 000 ? Do I have to pay taxes on it even though I'm returning that money right back to the buyer ?

ma0641
Sep 11, 2016, 06:22 AM
According to your statement, you are giving $11,000 but increasing the price by $11,000. Correct? If so, it is a wash so yes, CG on the total. However, if this is your primary residence, you may pay nothing in CG.