I have been familiarizing myself with the tax rules associated with selling a rental property. I understand the rules around cost basis and how to calculate any deduction or additional tax liability based on the sale price. The part I question is regarding fees and taxes, such as title, state/recording fees, etc. It seems that most fees and closing costs would be tax-deductible. When I first purchased my home, I only remember things like prepaid property taxes and points could be deducted. As the seller, it seems like I am able to deduct most fees, where as a buyer I could not. Is my understanding accurate?
