PatriciaV
Employee Tax Expert

Deductions & credits

No, title and UCC fees are not included in the basis of your property for tax purposes. Generally, your adjusted basis would include:

  • original cost, including sales tax, purchase expenses, commissions, etc. unrelated to financing
  • permanent home improvements
  • less depreciation claimed or allowable (if you had an office in your home)
  • less casualty and theft losses (if any)

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