Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
ednmic
New Member

Are HELOC closing costs deductible?

 
1 Best answer

Accepted Solutions
Marketstar
Level 7

Are HELOC closing costs deductible?

No, closing costs, including the 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

 


View solution in original post

1 Reply
Marketstar
Level 7

Are HELOC closing costs deductible?

No, closing costs, including the 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

 


Dynamic AdsDynamic Ads
Privacy Settings
v