Should Itemized Deductions be Permitted When Recording The Deed

Why are items like realtor commissions, Title insurance, Mortgage fees, recording and transfer tax fees not deductible as an itemized deduction for what is owed in transfer tax?  Why isn't the buyer permitted to itemize their costs that don't add any intrinsic value to the home.  The fees add a great value of personalty but not monetary value as it pertains to ongoning value of a home.  I think if a person buys a $400,000 dollar home, has 6 % in realtor commissions (average), $3000.00 in Title and another $1500.00 in mortgage fees and points, the true VALUE of their home is $372,500.  When the deed is recorded it is recorded in its full value of $400,000. thus adding another $1060.00 to the transfer tax.  By the way, this tax will then be distributed as income and then Taxed as income.
What are your thoughts?
  • June 05 2012 - US
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