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M&t Escrow Services Allocation Form

M&t Escrow Services Allocation Form

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[Music] hey how you doing this is peter with mckerner group just want to talk a little bit about there's a form that always comes up in it especially if you're selling a rental property it comes up in escrow you get a full escrow packet as a seller and so this goes out to all the sellers that are selling an investment property or a rental one form is a 593 it's e-593 form so what is that form that form is for the irs and also escrow to see how much you made on the property if you're selling it it's not for a primary residence so if you're selling a property and you made profits of a hundred thousand dollars well it gives you a complete breakdown of okay almost like a math problem like okay well i bought it for two hundred thousand dollars and we're selling it for 350 and the real estate fees were fifty thousand dollars you can put everything on there and i wanna go over it a little bit and just chat about what it was because a lot of people come to me with a lot of questions about it a

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