What exactly on HUD-1 purchase can I deduct when I have seller paying some closing costs and property taxes paid are 5 months initial deposit to escrow account?
I bought a new house in 2013. Line 801 Our Origination Charge $4,045.18. Line 802 is "your credit or charge for the specific interest rate chosen" and is -$3,475.18. Line 803 carries to Paid from Borrower's Funds at Settlement column and is $670. Line 1004 Property Taxes is $852.60 (city and county) and line 1009 is an Aggregate Adjustment of -$403.98. All of this flows to line 1001 initial Deposit for your Escrow Account of $699.94. The bottom total of "Paid From Borrowers Funds at Settlement" is $4,103.12 which of course flows to page 1 line 103. Then line 208 Seller paid closing Costs of $3,750.20. Knowing this, is there any portion of the Origination fee or property taxes I can deduct on my taxes?