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R
rorocpa
Level 2
May 20, 2022

Deductions on sale of residence on 1041

  • May 20, 2022
  • 2 replies
  • 5 views

Hi.  Are the costs paid by purchaser for appliance replacement and hot water repair deductible on 1041?

    This topic has been closed for replies.

    2 replies

    IRonMaN
    IRonMaN
    Level 15
    May 21, 2022

    I’m confused.  Why would the seller get to deduct costs paid by the purchaser?

    Slava Ukraini!
      R
      rorocpaAuthor
      Level 2
      May 21, 2022

      It reduced the estate's (seller's) proceeds.  You may have answered my questions.

      R
      rorocpaAuthor
      Level 2
      May 22, 2022

      Yes the purchaser received the credit.  

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