Typically for figuring out the tax basis of your home (regardless of a sale or a purchase) you back out various line items from the HUD report. Obviously commissions is one of them. The line items on the HUD make it really quick and easy to pick out the items that you can deduct. For a purchase obviously you don’t have much there right? I mean you have financing costs and other things that you can amortize over time and by no means am I an accountant. If you are the seller then yeah you grab every single thing that your accountant will let you grab to knock down the sales price to reduce your gains when you do your sales price – original (or adjusted) cost basis.
