Posted by Greg on January 26, 2006 at 14:52:25:
“Abstract fees are the title search”, well I should have menitoned that the form has a separate section called “Legal Fees, Title Search, Document Preparation” I appologize for not mentioning that earlier.
Abstract and Recording Fees - Posted by Greg
Posted by Greg on January 26, 2006 at 01:01:18:
I am using Turbo Tax Premier to do my taxes including Schedule E for the first time, and one of the items asks for Abstract and Recording Fees, that sounds super vague to me, and the online help does not have advice for that topic. I wonder if anyone here could help me with which items off of my BUYER FINAL CLOSING STATEMENT I would include on that line.
Re: Abstract and Recording Fees - Posted by Greg
Posted by Greg on January 26, 2006 at 14:48:36:
I am still confused because the next lines ask for “Legal Fees, Title Search, Document Preparation” the next, Land Surveys, then Title Insurance, then Transfer or Stamp Taxes, and then Expenses you paid to the Seller, so I don’t know what goes where for example what’s an Endorsement Fee, where does the Courier or Wire fee go? (Please don’t say see a tax professional as this can’t be Rocket Science).
For example here are some of the sections from my Closing Statement:
TITLE CHARGES:
06-ALTA Loan w/Form 1 -1992 for $xxx,xxx.xx
Endorsement Fee(s)
Recording Deed
Recording Trust Deed(s)
ESCROW CHARGES
Escrow Fee to “The Title Company”
Doc Prep Fees to "The Title Company)
Notary Fees to “The Notary Gal”
NEW LOAN CHARGES - “The Lender Company”
Appraisal Fee to Broker
Credit Report to Broker
Tax Service Fee
Underwriting Fee
Flood Certification
Document Fee
Wrie Fee
Courier Fee
MERS Regis.
Yield SPread Premium $x,xxx.xx POC to Broker
Interest
HOA CHARGES
Transfer Fee
Document Fee
Etc…
Look at page 2 of your HUD-1 - Posted by dealmaker
Posted by dealmaker on January 26, 2006 at 07:33:45:
Look at sections 1100 and 1200, that’s where they are.
dealmaker
Re: Abstract and Recording Fees - Posted by John
Posted by John on January 26, 2006 at 07:11:18:
Recording fees is just that.
Abstract fees are the title search.