Can I deduct house hunting costs on my federal income tax for a broken contract??

Mar 17, 2005 1 Replies

In 2004, I paid for the inspection and title search for a contract I eventually had to break. Can I deduct those expenses on my federal incomce tax return and if so what form and what line do I enter this deduction on?? Thanks!



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Add these expenses to the cost basis of the house you eventually purchased. There is no current year deduction.

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