Setting up your accounting after purchasing a personal propertyhttps://lukeko.com/19/setting-up-your-accounting-after-purchasing-a-personal-... 0
This is for a personal residence and not for a rental property
There are many different types of fees and charges a home buyer must pay to get a loan and complete the purchase. For tax purposes, these expenses fall into three categories:
- deductible expenses
- expenses added to the home's tax basis, and
- nondeductible expenses.