Closing costs
2%-5% of price
Can You Write Off Closing Costs?
Short answer: Points and prorated property taxes are deductible; most other closing costs add to your basis.
Title insurance, appraisal, and recording fees are not deductible.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
BW-B22-00130
medium risk
Closing costs
2%-5% of price
Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
Points and prorated property taxes are deductible; most other closing costs add to your basis.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Points and prorated property taxes are deductible; most other closing costs add to your basis. Title insurance, appraisal, and recording fees are not deductible.
Category
- Personal Tax Deductions
personal deduction
search demand 2026
home mortgage
home improvements