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)

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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.

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Reply to
R. Vaughn
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Non-deductible. It does get included as a cost of sale should you have enough gain to be subject to capital gains tax on the sale. Ira Smilovitz

Reply to
Ira Smilovitz

no

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Reply to
Benjamin Yazersky CPA

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