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Do real estate agents fees get deducted before any capital gains liability on home sale?

Question:
We believe we are liable for taxes on the sale of our main home as it has risen more than the $500k allowance for a married couple (see earlier question). Can we deduct real estate agent fees before calculating the capital gains tax liability?

Answer:
Yes, they are. So are a lot of other things. Basically, your "gain" is your selling price, minus your purchase price minus upgrades and improvements, minus purchase fees, minus selling fees...basically minus anything that you weren't able to claim against your taxes like mortgage interest and RE taxes.

But, please, don't take my word for it. Everything you ever wanted to know about selling your house is at the IRS link attached.

Congrats big time on having such a nice gain!
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