You'll need to sign in or create an account to connect with an expert.
You can deduct mortgage interest, points, and real estate property tax
paid at closing. You report those expenses along with other mortgage
interest/property taxes paid in the year at
Federal Taxes
Deductions And Credits
choose I'll choose what I work on, if asked OR Jump to Full List
My Home
All
other costs paid at closing, including transfer taxes, "stamps", escrow
fees, etc., are NOT deductible from current income, instead you add
them to the cost basis of your home and you will get the benefit when
you sell.
You can deduct mortgage interest, points, and real estate property tax
paid at closing. You report those expenses along with other mortgage
interest/property taxes paid in the year at
Federal Taxes
Deductions And Credits
choose I'll choose what I work on, if asked OR Jump to Full List
My Home
All
other costs paid at closing, including transfer taxes, "stamps", escrow
fees, etc., are NOT deductible from current income, instead you add
them to the cost basis of your home and you will get the benefit when
you sell.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Flanda
Returning Member
djhi849711
New Member
kvthompson2
Level 2
richard's_tax
Level 3
StevenFff24
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.