Can I write off the broker fees that I paid when I refinanced my house? If so were do I deduct them at?
Can I write off the broker fees that I paid when I refinanced my house? If so were do I deduct them at?
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.
Broker fees should be capitalized as part of the cost of residence. In general it is a personal expense.Quote:
Originally Posted by knris
Agreed! The broker fees are a personal expenses and CANNOT be deducted on the 2006 tax return.
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