DavidD66
Expert Alumni

Deductions & credits

There is no single category or line item that makes up your sales expenses on a settlement statement.  It depends on what expenses you incurred, and how they were reported.  Additionally, you may have incurred sales expenses that were not reported on your settlement statement, such as marketing costs.  As for the items on your settlement statement, you can generally deduct all of the expenses that were incurred to sell the house, close the sale.  These include commissions, closing costs you paid on behalf of the buyer, document fees, etc.  You do not include property taxes, HOA fees and assessments, and other assessments.  

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