Realestate taxes

I sold and bought a new house in 2007, on both houses I had to pay delaware state transfer tax, is this tax deductable

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Submitted 322 days ago...

Ruchele

Brain (3,118)

Transfer tax funds infrastructure improvements (repairs to streets, sewers, bridges, etc.) that would otherwise be postponed or eliminated in your community, and is not deductible on state or federal income tax returns. The amount of the real estate transfer tax ordinarily increases the cost basis of the purchased residence. You should refer to your tax advisor on this matter.

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