pk
Level 15
Level 15

Deductions & credits

@divmomkr , don't know what you mean.  However and in general,

(a)  Your expenses associated with the purchase of the asset like title search . title insurance, inspection etc. are part of your basis -- your acquisition cost.

(b) Property taxes , being an on-going expense is deductible , if you itemize , and under the SALT limits

(c) Mortgage interest, another on-going cost  is deductible  , if you itemize and under the  mortgage principla limit.

 

Does this answer your query ?