Quote:
Originally Posted by oliviernh
Sorry Rattlesnake Guy...transfer/stamp taxes are not deductible on your federal return. If you are the seller the transfer taxes reduce the proceeds from the sale and if you are the buyer they add to your cost basis of the property. I think this is correct unless something has changed recently.
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I stand corrected. After rechecking the IRS document, you are correct.
Reinforces the old axiom, never accept tax advice from a lakes region forum member.
