Tag Archives: Closing cost

Closing Costs

Today TaxMama hears from Manny from the Tax Parlor has a question, “On the 1040, Schedule A, where do I put my closing costs?” ~~~~ Hi Manny Uh….nowhere. You can’t deduct your closing costs. However, some of the costs on the HUD statement that you may deduct include property taxes that were paid in escrow […]

Closing Costs

Today Gene from Centennial, CO wants to know “I am in the process of purchasing a second home for the purpose of renting it. Are closing costs deductible on next years tax filing?”