Home Sale Expense?

[Justataxguy]

Is a "Seller Concession" considered an expense on the sale of your main home? It is listed as a credit to purchaser on a statement of distribution for the sale, but is included on the 1099S as part of the gross proceeds in box 2. Can't find anything to indicate if or how to use it.

[Roland Slugg]

A "seller concession" is essentially a reduction in the selling price. However, since the gross selling price is the amount reported on form 1099-S, just treat the concession the same as the realtor's commission and all the other selling expenses.

[Justataxguy]

A "seller concession" is essentially a reduction in the selling price. However, since the gross selling price is the amount reported on form 1099-S, just treat the concession the same as the realtor's commission and all the other selling expenses.

Thank you!