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Are notary fees and owner's title insurance paid to a Title company at the sale closing considered eligible expenses for adjusting the basis of an inherited second home?
For sale of inherited home I received a 1099-s which shows gross proceeds only. I need to make adjustments to the basis by listing allowable closing costs expenses paid, and am not sure if IRS considers notary fees paid to Title Co., or Owner's Title Ins. paid to Title company as allowable expenses.
‎June 6, 2019
3:27 AM