2007-01-11 08:11:07 · 3 answers · asked by John W 3 in Business & Finance ➔ Taxes ➔ United States
Some are some aren't is this a residence or income producing? Usually, points are dedectible on a primary residence not on income producing. Basically anything relating to the cost of the mortgage but not related to taxes,inspections, surveys unless it relates to business expenses.
2007-01-11 08:18:14 · answer #1 · answered by PrettyEskimo 4 · 2⤊ 0⤋
The only answer you can get is typically.
Typically, fees are deductible. i.e. origination fees and points to buy down your rate.
Title insurance, filing fees, flood determination, credit report, commitment fees, closing fees, other tax service fees, attorney work, appraisals, are not deductible.
You can get a deduction for the taxes that you pay, but you can't deduct the full amount if you received a credit from the seller for taxes.
You may also need to ask a CPA if the seller paid any costs on your behalf that they are allocated according to the non deductible fees.
2007-01-11 08:32:04 · answer #2 · answered by Culture Warrior 4 · 1⤊ 0⤋
Yes! We have them for 06 taxes too!
2007-01-11 08:13:51 · answer #3 · answered by Jo 6 · 0⤊ 2⤋