The following items are some of the settlement fees or closing costs you can include in the basis of your property. Items you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions.
Generally, these expenses can be deducted as selling expenses:
- Appraisal fees.
- Inspections.
- Loan origination fees.
- Title fees.
- Transfer fees.
- Mortgage interest.
- Mortgage points.
- Real estate property taxes.
This link IRS Basis of Assets has information you may find useful.
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