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New Member
posted Jun 4, 2019 10:42:30 PM

Where do I enter land purchase settlement fees

0 2 604
1 Best answer
Level 7
Jun 4, 2019 10:42:32 PM

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


2 Replies
Returning Member
Jun 4, 2019 10:42:31 PM

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?

Level 7
Jun 4, 2019 10:42:32 PM

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