Home
Community Links
Buyer Services
Seller Services
About Us
Buyers Tips
Seller Tips
Property Search
Featured Properties
Our Office
Our Agents
Customized Marketing
Request a CMA
Virtual Agent
Glossary
Mortgage Info
Contact Us

Be one of the first to know about New Listings!
  • Save Your Searches
  • Save Your Favorite Homes
  • Daily Email Updates
To get started, click here to register. Already a member? Log-In below!

EMAIL ADDRESS

PASSWORD


 

Tips for Buyers

What home-buying costs are deductible?
Any points you or the seller pay to purchase your home loan are deductible for that year. Property taxes and interest are deductible every year.

But while other home-buying costs (closing costs in particular) are not immediately tax-deductible, they can be figured into the adjusted cost basis of your home when you go to sell (any significant home improvements also can be calculated into your basis). These fees would include title insurance, loan-application fee, credit report, appraisal fee, service fee, settlement or closing fees, bank attorney's fee, attorney's fee, document preparation fee and recording fees. Points paid when you refinance an existing mortgage must be deducted ratably over the life of the new loan.

Provided By Inman News
- Return to Buyer's Questions
realtor logo

The multiple listing information is provided by the CRIS Multiple Listing Service from a copyrighted compilation of listings. The database of listings is updated several times daily. The compilation of listings and each individual listing are 2023 the CRIS Multiple Listing Service all right reserved.
This Brokerage is licensed in the State of Ohio and Pennsylvania. Copyright © 2023.

Privacy Policy | Terms of Use | Web Site Administration
Real Estate Website Powered by RealEstatePointe
equal housing logo