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Mortgage Tax on New Purchase...Tax deductible?

Started by a2deuce
almost 18 years ago
Posts: 115
Member since: Apr 2007
Discussion about
Is the Mortgage Recording Tax paid at the closing Tax Deductible? If I bought in 07 can I write that off along with Mortgage Interest paid in 07? Thx!
Response by jordyn
almost 18 years ago
Posts: 820
Member since: Dec 2007

According to this article:

http://query.nytimes.com/gst/fullpage.html?res=9400E6DD1238F933A15754C0A961958260

it's not deductible (but it says that it is part of the cost basis of the property, so it may eventually decrease any capital gains taxes you pay).

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