Thursday, July 8, 2010

I read that title insurance when buying home is tax deductible, is that true?

If so, what does it fall under in the tax deductions? Thank you all so much. Yahoo answers is great.I read that title insurance when buying home is tax deductible, is that true?
Title insurance is not tax deductible. However, you add it to the cost basis of the house, so it will reduce your capital gain (if you sell the house at a profit) when you sell the house.I read that title insurance when buying home is tax deductible, is that true?
No, it is not true

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