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The seller paid real estate commissions, attorney's fees, and transfer taxes on the sale of a business property. How are these expenses treated for income
The seller paid real estate commissions, attorney's fees, and transfer taxes on the sale of a business property. How are these expenses treated for income tax purposes? A) Non-deductible because the buyer should have paid them B) Deductible as an operating expense C) Increased the gain recognized from the sale D) Reduces the amount realized from the sale
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