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Investors & landlords
Thanks, @DaveF1006!
@anilj I am in the same camp as you.
The IRS publication 527 did not specifically break down the type of title insurance (Owner vs Lender) that can be added to the cost basis.
Technically speaking, the Lender's title insurance is part of the lending process. So I wonder why they included it as part of the cost basis instead of amortizing it.
Should be safe to include both Owner and title insurance as part of the cost basis right?
‎January 11, 2022
11:56 AM