Is Titling Tax Deductible?

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If you're selling a home there are a couple of different things to consider. Find out if titling is tax deductible with help from a business consultant in this free video clip.

Part of the Video Series: Finance & Business Advice
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Video Transcript

Hi, my name is Alexis Guerreros. I'm a business consultant. Today, I'm going to talk to you about titling, your title insurance and is it tax deductible. I mean there's two ways to look at it. If you own a home or if you are purchasing and it's your primary home, no that is not tax deductible. The premium on your title is not. However if you are selling there are a couple of different things to consider. It's considered the expense of selling a home or owning a home to having a title insurance or to have it done during the process of selling the home. So it might be important for you to consider if it's tax deductible as it is considered an expense. Something you might want to speak t an accountant about. However if you are owning the home that's part of owning the home, so the answer is no. It's not something you can deduct on your taxes. Keep in mind and make sure you keep your paperwork in case you ever decide to sell your home and it comes up as something that you maybe be able to deduct as it is as I mentioned an expensive part of the sale. Good luck with the house sale.

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