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Returning Member
posted Oct 30, 2019 4:27:55 AM

1. Rental property: Is realtor commission taxable? If so what category is it? 2. Rental property: My insurance is YoY from Nov to Nov. How do I claim?

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New Member
Oct 30, 2019 4:27:57 AM

1. Realtor commissions are tax deductible when you sell a property. They should be included as "outlays and expenses". 

If you are a recipient of realtor commissions, this is taxable income and would classify as self-employment income. 

2. You should claim the expenses that are incurred in accordance with the tax year. This means the amounts you paid from January to November, and the revised amount (if applicable) from November to December. 

1 Replies
New Member
Oct 30, 2019 4:27:57 AM

1. Realtor commissions are tax deductible when you sell a property. They should be included as "outlays and expenses". 

If you are a recipient of realtor commissions, this is taxable income and would classify as self-employment income. 

2. You should claim the expenses that are incurred in accordance with the tax year. This means the amounts you paid from January to November, and the revised amount (if applicable) from November to December.