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Deductions & credits
Most closing costs on the purchase of a home are not deductible. The one exception is points you pay to reduce your interest rate and the real estate taxes you might pay upfront, and possibly property taxes that are paid at closing.
But keep good records. Many other settlement fees and closing costs for buying the property become additions to your basis in the property.
Please see this LendingTree article. Closing Costs That Are (and Aren’t) Tax-Deductible
Also see IRS publication 530 Publication 530 (2021), Tax Information for Homeowners - IRS
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February 7, 2023
4:56 AM