Where do I enter land purchase settlement fees

[369lisa]

should I include them in the "original purchase price" question on turbotax, or should I remember them and add them to the cost basis at the time I sell the property?

[Marketstar · Accepted solution]

Settlement costs, including the below, are not tax deductible but may increase the cost basis of your property 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