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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: Jason Rooks who wrote (1940)2/27/1999 11:01:00 PM
From: Colin Cody  Read Replies (1) of 5810
 
Jason, When you purchase a condo you can usually deduct items found on the closing statement:
daily interest paid through the closing date.

property taxes paid as a reimbursement through the closing date.

points on the mortgage loan.

That assumes you are buying it as your primary residence. If you are buying something else: 2nd home, rental property, investment property, business property, etc then the items are still usually deductible, but the points are amortized over the life of the original mortgage amortization term.

Colin
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