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Can't Write off Your Closing Fees!!!

skprmiss Posted:

Can't Write off Your Closing Fees!!!

Hello Everyone!!!

Well lastnight my husband and i went to get our taxes done. We bought a house in June and that day made our appointment with our tax guy to get our taxes done (eager to get all that $$ back). But last night, to our dismay we found that you can NOT write off your closing fees. Both our lawyer and real estate agent told us that we could.

It was so annoying...but I just wanted to give all of you a heads up.

shamrock12472 Posted:

Re: Can't Write off Your Closing Fees!!!

No, they become part of your basis in your home. You can however, decuct the closing costs associated with interest and real estate taxes.

KarenB Posted:

Re: Can't Write off Your Closing Fees!!!

Major bummer, we were told we could too.

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