Where do you deduct closing costs for new home purchases?

Forum|Forum|3 years ago
March 27, 2023
3 replies
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ProConnect Tax

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sjrcpa

Level 15

Mostly they are not deductible.

The more I know the more I don’t know.

BobKamman

Level 15

There should be a place under mortgage interest to deduct points, if paid by either buyer or seller. I don't use ProConnect, so I'm not sure. In many locations the buyer gets a credit for property taxes pro-rated to the seller up until closing date, so be sure to subtract that from any taxes paid by the buyer.