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Deductions & credits
You can deduct mortgage interest, points, and real estate property tax paid at closing. You report those expenses along with other mortgage interest/property taxes paid in the year at
Federal Taxes
Deductions And Credits
choose Explore on my own, if asked
My Home
All other costs paid at closing, including transfer taxes, "stamps", escrow fees, etc., are NOT deductible from current income, instead you add them to the cost basis of your home and you will get the benefit when you sell.
Federal Taxes
Deductions And Credits
choose Explore on my own, if asked
My Home
All other costs paid at closing, including transfer taxes, "stamps", escrow fees, etc., are NOT deductible from current income, instead you add them to the cost basis of your home and you will get the benefit when you sell.
‎June 4, 2019
10:07 PM