Anonymous
Not applicable

Investors & landlords

unfortunately  closing statements are complicated.    some items are selling expenses ,  some are itemized deductions, some are not deductible at all

 

see irs publication 523

https://www.irs.gov/pub/irs-pdf/p523.pdf

 

and here's another link tied into lines on HUD statement

https://support.taxslayerpro.com/hc/en-us/articles/360009170634-Closing-Cost-Deduction

 

any further questions post back in this tread. 

 

the following versions of TT support home sale 

Premier, Self-Employed, and TurboTax Live (Online versions) and in all personal CD/Download versions of TurboTax.

 

assuming your home has never been rented out,  in step by step mode it will eventually ask you a question about selling your home.  that's where the home sale info will be entered

 

 

 

in step by step mode there will be a box to enter sales expenses.  click on "selling" and a list will pop up