In 2020 I bought a condo as a rental investment property. I did a home loan.
On top of the house price I had a bunch of costs like:
LOAN CHARGES (Origination fee, appraisal, flood certification, …) – these are costs related to the mortgage
CLOSING CHARGES (Closing fees, title fees, title insurance, recording fees, real estate attorney fees,….) – these are costs related to the closing
All these costs are summarized in my ALTA settlement.
Do you deduct these costs as expenses or you add them to the property value or something else?
