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Stephen G.
Stephen G., Sr Financial Expert
Category: Finance
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Experience:  Extensive Experience with Tax, Financial & Estate Issues
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Are transfer taxes shown on real estate settlement

Customer Question

Are transfer taxes shown on real estate settlement statements (HUD --1) deductible on tax return if they were shown on seller's
settlement statement?
Submitted: 1 year ago.
Category: Finance
Expert:  Stephen G. replied 1 year ago.

No. Transfer taxes are not real estate taxes so they would have to be added to the tax basis of the property.