- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Try using these values:
A Abstract and Recording Fees = 9 Recording Fees
B Legal Fees, Title Search, Document Preparation = 2 Appraisal Fee; 3 Credit Report Fee; 5 Tax Service; 6 Title Courier Fee; 8 Title Settlement Fee
C Land Surveys = 4 Flood Certification
D Title Insurance = 7 Lender's Title Insurance
E Transfer or Stamp Taxes = none (seller paid these)
F Expenses you paid for the Seller = none shown on your list
The seller paid items would not add to your basis. Item 1 Origination charges would be amortized over the life of your loan instead of being added to the basis.
**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 30, 2020
2:39 PM