Closing Costs (Origination Fees, Recording Taxes, etc)

[Anonymous]

We purchased a house this year and I have closing costs that are not listed on my 1098 Mortgage Interest Statement. Where do I input this information?

[LeeM]

I would first make sure the closing costs are deductible. Usually the only ones that are are interest paid at purchase and taxes paid at closing. I have listed below the closing costs that are deductible. The closing costs that would be deductible: 

• interest paid at the time of purchase (the charge at closing would normally be done for interest up to the date of first payment.), --Entered when you enter mortgage interest as a second 1098 form

• real estate taxes charged to you,  - Entered as additional real estate taxes

• points (sometimes called origination fees and expressed as a percentage of the amount borrowed.)? On a refinance they need to be amortized over the life of the loan or 84 months, whichever is less, unless the points were used to improve your main home, and 

• private mortgage insurance costs but, if prepaid, only the amount allocable to this year based on an 84 month amortization. 

Title fees, real estate commissions, appraisal costs, home inspections, documentary stamps, credit report costs, costs of an abstract, transfer taxes, flood certificate, attorney fees, etc. are not deductible, but are added to the cost of the property. 

[kali619]

What about real estate taxes paid into the initial escrow payment at closing?