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Subject:  Hud Statement line 1203 Date:  3/11/2005  12:42 PM
Author:  MostCurious1 Number:  77584 of 128126

sold NJ Cond after more than 2 years, no capital gains tax due, owned and lived in it for over two years. Hud Statement line 1203 shows NJ Real Estate Transfer Tax of $ 1500.00. Is this 1500 deductible in addition to the State Sales/Income tax on the federal return on line 7 of schedule A? On the NJ part year resident return?
Also, I am new to PA returns. I guess PA is really straight forward, no exemptions, no deductions?
Thanks for your help.
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