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Posted by Paul Thomas, CPA on January 23, 2008, 7:57 am
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> removeps-groups@yahoo.com wrote:
>
>> Are incentives to buy a house taxable? They're offering things
>> like 2 years HOA fees free, 6 months mortgage payments free (or
>> paid by the company), even cars and trips.
>
> Depends. Who is giving the incentives? If it's your employer, they
> are probably taxable. If it's the seller, they may well be considered
> reductions in price and not taxable.
Remember that you're paying (in the price of the house) for that car or trip
for 30 years (or however long the mortgage is). If there truly is a
car/trip incentive, talk the price down a couple of grand or more and let
them keep their car/trip.
--
Paul A. Thomas, CPA
Athens, Georgia
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