The answer to whether closing costs are tax deductible — or mortgage interest and property taxes for that matter — is often maddeningly, “It depends.”

 

Basically, you’ll want to itemize if you have deductions totaling more than the standard deduction, which for 2021 is $12,550 for single people and $25,100 for married couples filing jointly

READ MORE by Leanne Potts, HouseLogic

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