Are seller concession fees deductible

Seller concession fees, which are costs that a seller agrees to pay on behalf of the buyer during a real estate transaction, are generally not deductible by the seller. However, these concessions can be factored into the overall cost basis of the property for the buyer, potentially affecting future capital gains tax calculations when the property is sold. Buyers should consult a tax professional for specific advice regarding their situation and potential implications on their tax returns.