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I know I can deduct property tax and interest but had a specific question on this:
I sold my home near Seattle last year and paid over $8K in Excicse tax to King County. I believe this is some sort of a sales tax (that is what the receipt lists it as even though I was the seller).
Does anyone know if we can write this tax off as a deduction for our 2007 taxes and if so what category does it go in? It's not really a property tax or a sales tax but I would be interested in knowing if others have done this. Seems like a deductable expense. We used the appreciation from this home to purchase another home out of state.
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