- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
You didn't accumulate income by purchasing a home and paying closing costs, but if the bank gave you a credit somehow then they are saying that it was a benefit to you that is taxable (which you can add to the basis of your home later). We would respectfully suggest calling the lender to ask them why the interpreted it as such.
March 8, 2021
7:59 AM