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?”
Tag Archives: 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 […]