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We purchased a second home in Texas - we have our primary
We purchased a second home in Texas - we have our primary residence in California. We did not finance (paid cash). What closing costs are tax deductible? How about property tax, HOA fees, etc… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I refinanced my VA loan in 2018, can I deduct any of the
I refinanced my VA loan in 2018, can I deduct any of the closing costs like the VA Funding fee of $10,824.00? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I bought a new house and rented 2nd floor of the house in
I bought a new house and rented 2nd floor of the house in 2018. from closure disclosure i need to know the following: … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I bought some land in 2017 to build a new house on. I took
I bought some land in 2017 to build a new house on. I took out a home equity loan to pay for it. how do I handle interest paid in 2017 and taxes paid to town and county where property is located? 2nd … read more
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If someone were to refinance the loan on a rental property
If someone were to refinance the loan on a rental property they own are the loan fee, city tax, refinance fees, loan origination fee, and closing costs deductible? If so, would they be depreciated ove… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I just refinanced a commercial rental property owned by my
I just refinanced a commercial rental property owned by my LLC and taxed as a partnership. My question is regarding the settlement and closing fees. Do they have to be capitalized and added to the bui… read more
Mark Taylor
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Need help for mortgage closing cost evaluation. Bonus will
Need help for mortgage closing cost evaluation. Bonus will be given for satisfactory answer. I will upload file once expet answer the question.… read more
Brian Michels
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Bachelors of Business Administration
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I just bought a new home last year im trying to figure out
i just bought a new home last year im trying to figure out what i can deduct from the HUD 1 that is not on the 1098 … read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I am trying to find out information what I can on my US
I am trying to find out information what I can on my US Federal Taxes regarding my first home purchase. House was bought on auction requiring about 10K in repairs, roof, electrical, plumbing etc. I ha… read more
emc011075
emc011075
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I am purchasing a duplex rental property as an investment. I
I am purchasing a duplex rental property as an investment. I will be taking a 'cash out' loan on my primary residence (which has been paid off for many years) to pay for it. Question 1: Can I enter th… read more
Gabriela Brondo
Gabriela Brondo
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I am the owner of a 4 unit investment property which we just
I am the owner of a 4 unit investment property which we just purchased. I have 2 tax questions I would love to understand better. 1. What of my closing costs are tax deductible? I know the points asso… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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What code section do you put loan fees on rental properties?
Regarding loan fees on rental properties. Publication 527 basically just says to deduct points over the life of the loan. It makes it sound like you just add it to interest expense. But it looks like … read more
Stephen G.
Stephen G.
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Bachelor's Degree
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I live in Virginia. Are the City/County Tax Stamps and ...
I live in Virginia. Are the City/County Tax Stamps and State Tax Stamps and Grantor''s Tax paid at the purchase or re-finance of a home deductible on Schedule A?… read more
Wendy Reed
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Master's Degree
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We refinanced our home in CY 2007. When we received our ...
We refinanced our home in CY 2007. When we received our Mortgage Interest 1098, block "2" indicated we paid no points. However, our HUD1A showed we paid amounts for the following items / lines: 0801 L… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
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Bought land and refin. 2006 from the settlement statement
Bought land in 2006 from the settlement statement: Under 1200 Government Recording and transfer chargers I) Item 1201 Recording Fees: deed $40.00 II) Item 1202 Recordation Tax to Treasurer for Frederi… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
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Are all items in the title charges, escrow charges, and
#1 Which items on my buyer statement for my new primary place of residence are tax deductable? TITLE CHARGES: lender/mortgage premium deed recording sub escrow 1st & 2nd recording/deed of trust courie… read more
jgordosea
jgordosea
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Bachelor's Degree
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Where do I find a list of deductions I can take as a ...
Where do I find a list of deductions I can take as a result of closing escrow on a new primary residence?… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
Deducting Closing Costs from Sale and Purchase of a Home
Can I claim closing costs paid on the sale of my previous home? and on the purchase of my new home? This information does not appear on my 1099 forms from these creditors. I do have the paperwork from… read more
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