### Question
What is the definition of current closing costs?


### Answer
The definition of **current closing costs** is as follows in *26 U.S.C. § 468*:

> the amount which the taxpayer would be required to pay for qualified closing costs if the closing activities were performed currently

#### Citation:
  - *26 U.S.C. § 468*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart C-Taxable Year for Which Deductions Taken**

