Actually, the new form is easier to understand that the old HUD-1 - pretty much everything you need is one page Page 2).
See sample at: Closing Disclosure Form
What can you deduct:
A. Origination charges (commonly referred to as "Points")
F. Prepaids, but only Mortgage Insurance Premiums, Prepaid Interest and Prepaid Property Taxes
What is added to the cost basis of your property:
B. Services Borrower Did Not Shop For
C. Services Borrower Did Shop For
E. Taxes and Other Government Fees
H. Other (will depend on the item. For example, an Inspection Fee paid by the purchaser can be added to cost basis)
H. "Other" can include almost anything. In many cases, these costs can be added to the cost basis of the property, but there aren't likely to be any deductible costs reported here.
