Does Realtor Commission = Boot?
I'm considering selling my first rental house. However, after doing some quick math, I've determined that it's going to cost me about $28k to sell the house. Of that, about $17k will go to the realtors. The remaining $11k is for repairs, holding costs, closing costs, etc.
That pretty well eats up all of my personal funds.
My question: Is it considered boot to spend the money that I receive from the sale of the house to pay the realtors? Or, do I have to pay them from my personal funds in order to avoid taxes on that $17k?
Ryan