To manually enter a HUD statement for a property sale, you categorize entries into either the Income Tracker or the Expense Tracker based on whether they represent income or expenses for the seller.
Income Tracker entry
Contract Sales Price. Find the Summary of Seller's Transaction section on the HUD statement. The Contract Sales Price should be entered in the Income Tracker and categorized as Resale Income.
Expense Tracker entries
All other items in the Summary of Seller's Transaction that reduce the amount due to the seller are tracked in the Expense Tracker. They generally fall into two groups.
Adjustments and reductions
Look for adjustments for items unpaid by the seller or paid in advance. These often include property taxes, assessment taxes and HOA dues.
Property taxes are categorized as Holding Costs.
Other miscellaneous costs in this section that are not property taxes are categorized as Selling Costs.
Settlement charges
Refer to the Settlement Charges section, typically page 2 of the HUD statement. Real estate commissions are usually the largest portion. All itemized charges here, including title charges, government recording and transfer charges, survey and notary fees, are categorized as Selling Costs.
Read the full article: How to Enter a HUD Statement into the Expense Tracker after Selling the Property