Minimize Taxable Gain Using Sale Expenses

[Tax Tip]

Many investors overlook deductions when they sell their property. If
you sold your rental property for a gain, make sure to minimize taxes
by accounting for sale expenses - like closing costs, which can be
found on the property's settlement statement.

You should deduct Commissions Paid, Title Charges, Recording and
Transfer Charges, and Additional Settlement Costs from the Contract
Sales Price. This will help you minimize gain, and lower the tax
liability on your sold property.

Check out Real Tax Tips at TReXGlobal.com to learn more about saving
time and money on properties and taxes.
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