answersLogoWhite

0

is seller concession a tax deduction for me the seller

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

Are seller concession fees deductible?

Seller concession fees, which are costs that a seller agrees to pay on behalf of the buyer during a real estate transaction, are generally not deductible by the seller. However, these concessions can be factored into the overall cost basis of the property for the buyer, potentially affecting future capital gains tax calculations when the property is sold. Buyers should consult a tax professional for specific advice regarding their situation and potential implications on their tax returns.


Is seller's concession taxable income?

Yes, a seller's concession stand is taxable income. Depending on the state that tax rate would vary. Charities are refunded tax payments if filed under 'Unrelated Business Taxable Income '. This is only if all workers are volunteers.


Is donating blood tax deductible?

No, donating blood is not tax deductible.


What can you tell me about a Roth IRA tax deductible?

The benefit to a ROTH IRA tax deductible is that it is TAX DEDUCTIBLE. But that does not mean that there are no implications, so you still have to be thorough.


Is a seller's concession leagal in the state of Pennsylvania?

It is legal, and depending how much you put down depends on the concession allowed.


Is tax preparation tax deductible?

Yes. Tax Preparation does lies under business investment thus, is tax deductible.


Is a seller concession the same as a seller contribution And do the agents lose some commission when there is a concession or a contribution?

A seller concession and a seller contribution are often used interchangeably to refer to the same practice, where the seller agrees to pay a portion of the buyer's closing costs to facilitate the sale. Typically, this does not directly affect the agents' commissions, as their fees are usually based on the sale price of the home, not the closing costs. However, if the concession reduces the net sale price significantly, it could indirectly impact the agents' commissions.


Is Gas sales tax deductible?

Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.


Is pet insurance tax deductible in Arizona?

Not deductible on your federal income tax return.


Are gift cards tax deductible for a business?

No, gift cards are not tax deductible for a business.


Is property tax deductible in California?

Yes, property tax is deductible in California for state income tax purposes.


What is concession tax?

reductions in taxes.