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masouder
New Member

I sold a home last year, and answered all questions related to that sale. But I also bought anothe home, there are no questions about the purchase. Why not?

 
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jerry2000
Alumni

I sold a home last year, and answered all questions related to that sale. But I also bought anothe home, there are no questions about the purchase. Why not?

The sale of one home and purchase of another are two unrelated independent events.

The purchase of a new personal residence is not a reportable event.
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 (or Personal if using Home and Business)
Deductions And Credits
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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.
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