Hi guys,
I purchased property in 2017 for let's say $500,000. Sold it in 2018 for $510,000. Paid to a real estate agent a sale commission of $12,000.
So I made a loss of $2,000.
Question: is the agent commission tax deductible? basically do I have a tax to pay?
I think there is a loss, hence no tax obligations, am I right?
thanks
I purchased property in 2017 for let's say $500,000. Sold it in 2018 for $510,000. Paid to a real estate agent a sale commission of $12,000.
So I made a loss of $2,000.
Question: is the agent commission tax deductible? basically do I have a tax to pay?
I think there is a loss, hence no tax obligations, am I right?
thanks
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