We purchased a new home in 2024, on the settlement statement, which loan charges can we use as sales expenses?

[patismpa2003]

Can we deduct loan charges on sale of new home?

[rjs]

It's not clear what you did. Your use of the words "purchase," "sale," and "sale of a new home" is confusing.

Did you sell a home that you previously lived in?

Did you purchase a new home?

Did you do both of those?

You do not report the purchase of a home on your tax return, and you do not have sales expenses when you purchase a home. You would not have loan charges on the sale of a home.

Please clarify what you did.