JamesG1
Expert Alumni

Deductions & credits

These seller closing costs are listed in IRS publication 551

  • Real estate taxes (if assumed for the seller), see page 2
  • If you pay real estate taxes the seller owed on real property you bought, and the seller did not reimburse you, treat those taxes as part of your basis, see page 2
  • Any amounts the seller owes that you agree to pay, such as back taxes or interest, recording or mortgage fees, charges for improvements or repairs, and sales commissions, see page 3

I am not aware of a form but a spreadsheet formatted like the example on page 6, third column should be kept in your records.

 

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