There are different items are included n closing cost, it is why the calculation might be different.
Items below are not tax deductible but may increase the cost basis of your home which may benefit you in the event of sale.
- Attorney fees in connection with obtaining property
- Commissions
- State stamp taxes and transfer taxes
- Tax service fees
- Title policy fees or title insurance
- Miscellaneous abstracts of title, surveys, recording of deed
- Appraisal Fee
Deductible expenses for a new loan or refinance: mortgage interest paid (including origination fee or "points"), real estate taxes, and private mortgage insurance.
Some of the expenses associated with the closing cost cannot either be deducted nor depreciated, they should be amortized within 5 years instead.
