Can the fees paid to transfer title on homes be added to cost basis?
From Not A Clue@21:1/5 to All on Fri Nov 3 18:37:38 2023
A person is changing the title on his home from an individual name to a revocable trust. To do that, he has to pay the Managing Agent a fee and also legal fees for the HOA's Lawyer's legal fees. There may also be fees to be paid to state and city.
Can these fees be be added to the home's cost basis? Or are they simply non-deductible expenses?
TIA
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