Yes. These would include closing costs that you paid at closing that are not included elsewhere on your tax return. (So if you are reporting mortgage interest payments or property tax payments related to the sale elsewhere on your tax return, do not include these two costs as selling expenses also.)
You are allowed to
deduct from the sales price almost any type of selling expenses, provided that
they don’t physically affect the property. Such expenses may include:
- advertising
- appraisal fees
- attorney fees
- closing fees
- document preparation fees
- escrow fees
- mortgage satisfaction fees
- notary fees
- points paid by seller to
obtain financing for buyer
- real estate broker's
commission
- recording fees (if paid by
the seller)
- costs of removing title
clouds
- settlement fees
- title search fees, and
- transfer or stamp taxes
charged by city, county, or state governments
