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#1
03-06-2007, 09:44 AM
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 Re: Is the "NJ Realty Transfer Fee" deductible? "R. Vaughn" <RKV[at]yahoo.com> wrote: - quote - > In New Jersey, the seller of a home has to pay what is
no> called the "NJ Realty Transfer Fee" (RTF). (see below) > http://www.state.nj.us/treasury/taxa....htm~mainFrame > I sold my house in NJ in 2006. My question is: Is this > substantial "fee" (more than $4k in my particular instance) > considered a tax that would be deductible on a federal 1040 > return? And if so, where on the 1040? ___________________________________ <<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <----- << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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03-05-2007, 01:09 AM
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| Re: Is the "NJ Realty Transfer Fee" deductible? "R. Vaughn" <RKV[at]yahoo.com> wrote: - quote - > In New Jersey, the seller of a home has to pay what is
Non-deductible. It does get included as a cost of sale> called the "NJ Realty Transfer Fee" (RTF). (see below) > http://www.state.nj.us/treasury/taxa....htm~mainFrame > I sold my house in NJ in 2006. My question is: Is this > substantial "fee" (more than $4k in my particular instance) > considered a tax that would be deductible on a federal 1040 > return? And if so, where on the 1040? should you have enough gain to be subject to capital gains tax on the sale. Ira Smilovitz << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
03-03-2007, 09:07 AM
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| Is the "NJ Realty Transfer Fee" deductible? In New Jersey, the seller of a home has to pay what is called the "NJ Realty Transfer Fee" (RTF). (see below) http://www.state.nj.us/treasury/taxa....htm~mainFrame I sold my house in NJ in 2006. My question is: Is this substantial "fee" (more than $4k in my particular instance) considered a tax that would be deductible on a federal 1040 return? And if so, where on the 1040? Thanks in advance for your insights. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| deductible, nj realty transfer fee |
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