We purchased a home in Maryland in 2017. Can anyone tell me what line numbers from the Settlement Statement are deductible? I am getting conflicting answers. I’ve read the Publication 530 and 936 but I am still questionable about some things. More specifically, are the following line items deductible?
I would greatly appreciate any help and guidance on this matter!
First Page of Settlement Statement:
- Settlement Charges to Buyer
- Deposit or Earnest Money
(# ?) Seller Assist
- Cash [ ] From or [ ] to Borrower
Second Page of Settlement Statement:
- Realtor Fees or Commission (also line 705 & 706)
- Daily Interest Charges
- Mortgage Insurance Premium
- Initial Deposit for your Escrow Account
- Total Title Charges
- Government Recording Charges
- Transfer Taxes
(# ?) Lien Sheet Reimbursement
(# ?) Home Warranty
(# ?) Release Racording Fee
Thank you, Debbie
