- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
State tax filing
The only things you can deduct that appear on the escrow settlement document are real estate taxes and mortgage interest, and only if you didn't already include that real estate tax and mortgage interest on your return. The mortgage interest for the period stated on the closing statement may already be included in your Form 1098. See IRS Publication 530 for more information.
Other items on the closing escrow, such as real estate commissions, are treated as selling expenses when you calculate the gain on the sale. See IRS Publication 523 for more information.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 7, 2025
11:59 AM