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Deductions & credits
No, you don't add them to the basis. As you quoted from the IRS:
You can't include in your basis the fees and costs for getting a loan on the property. A fee for buying property is a cost that must be paid even if you bought the property for cash. They are not deductible for a personal residence, nor are they added to the basis.
The article the user above posted explains that those costs may be deductible or capitalized if you are refinancing rental property (business property).
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March 14, 2022
7:15 PM