Tag Archives: HUD-1

HUD 1

Today TaxMama hears from Craig in the TaxQuips Forum, who asks. “Are items on a HUD-1 (seller’s side), Lines 510-519, deductible by the seller as taxes paid on Schedule A or are they adjustments to the basis?”

Closing Costs and HUD-1

Today TaxMama hears from Milton in New Jersey who tells us, “I purchased a home in 2007, and someone told me the closing cost were tax deductible. Is this true?”