Is Anything Tax Deductible?
Unfortunately, not much. Your portion of any real-estate taxes and interest paid in advance is tax deductible. Points are deductible. Your insurance premium is not. Save an itemized list of expenses paid at the closing to show your tax advisor. While most other closing costs are not deductible, they might be added to your home's purchase price to arrive at its adjusted cost basis; so they do serve some tax purpose later.
Buyers always question whether moving expenses are tax deductible. Some are, but the majority are not. Here, too, your accountant can advise you.
