Can I deduct any fees from the Statement of Adjustment for a condo purchase?

[sophiey-cheng]

My purchase of a condo (investment property) deal closed in March 2024. there are legal fees and other fees on the statement of adjustment, can I deduct any of those fees? do i need to file my purchase anywhere?

[TurboTaxSusan · Accepted solution]

You don't need to report the purchase of your condo, and any fees paid when purchasing the property can be claimed against the income you make when you sell/dispose of the property.

[sophiey-cheng]

Thank you.