Question

selling a home-where to put closing costs or report closing costs on tax form

Forum|Forum|1 year ago
March 18, 2025
1 reply
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Hello:

We sold our home and am wondering where do you report on taxes the closing costs that are deductible and which ones are.

TurboTax Premier Online

D

DavidD66

When you sell your personal residence, the only deductible closing cost would be property tax, if you paid the purchaser for your share of the tax due to the bill not having been received/paid at the time of closing. Agent commission, closing costs paid by seller, etc. are a reduction of the proceeds which will reduce any taxable gain you might have.

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