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Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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WHICH ITEMS ON MY HOUSE SETTLEMENT STATEMENT ARE TAX DEDUC

Resolved Question:

WHICH ITEMS ON MY HOUSE SETTLEMENT STATEMENT ARE TAX DEDUCTIBLE?
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.

Hello FAKA,

 

The only closing costs you can deduct are property taxes that you paid or any mortgage interest amounts that were included as part of your closing costs. All other amounts simply add to your basis in the home and are not deductible.

 

If this was helpful please press the Accept button.

 

Thank you FAKA

 

 

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