BuyerTreatment for Closing costs paid by seller on buyer's behalf

[Michael Walton]

Hi all,

As a Buyer, I was able to get the Seller to pay some of my closing costs.  How do I (as the buyer) treat the amount the seller paid on my behalf?  I assume it's either a reduction to the basis of the property, or as a reduction to the closing costs to be amortized over the life of the loan (or a pro-rata portion of both).

Thanks in advance!