Can I use the closing cost of the house as the cost the property? It is less than the fair market value.

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No, the cost basis of the house you sold is what you paid for the home plus any capital improvements that were made to the property. The closing cost is not your cost basis.

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Please, I need help with form IT-2663. I was told I have to fill it out before I can close on the sale of my New York property. I live in Florida. Can anyone help me?

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Can I use the closing cost of the house as the cost the property? It is less than the fair market value.

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Can I use the closing cost of the house as the cost the property? It is less than the fair market value.

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