Buyer and Seller Resources > Mortgage Information

Tips for Buyers and Sellers | Mortgage Information | Consumer Resources | Home and Taxes

As part of your home buying needs, keeping your own home in order can be a challenge as well. Below are some websites that can help you make tax decisions regarding your home.

Homeowners: What You Can and Cannot Deduct
This report from the IRS explains what expenses you can deduct as a homeowner. It also points out expenses that are not deductible. This section has two primary discussions: real estate taxes and home mortgage interest.

Residential Rental Property
This publication discusses rental income and expenses, and explains how to report them on your return. It also covers casualty losses on rental property and the passive activity limits and at-risk rules. This publication is designed for those who only rent out a few residential dwelling units.

Moving Expenses
Explains the deduction of certain expenses of moving to a new home because you changed job locations or started a new job. Topics include: Who can deduct moving expenses; What moving expenses are deductible and how to report your moving expenses.

Selling Your Home
Explains the tax rules that apply when you sell your main home. Also includes  worksheets to help you figure the adjusted basis of the home you sold, the gain (or loss) on the sale, and the amount of the gain that you can exclude.

Tax Information for First-Time Homeowners
Provides tax information for first-time homeowners including how you treat items such as settlement and closing costs, real estate taxes, home mortgage interest, and repairs.

Tax Planning Guide
Deloitte & Touche presents Personal Tax Planning - an annual guide to tax planning and tax saving strategies. Published by the Private Client Advisors practice, the publication outlines processes for determining an individual's current tax position and methods for choosing tax-saving strategies best suited for a variety of tax situations - for both the present and future.

Scott Moritz, GRI, RECS
RE/MAX Fine Properties

4565 Highway 6 South, Ste A
Sugar Land, TX 77478
Direct: (281) 433-3058
Office: (281) 265-5533 x173
Fax: (281) 494-5537
scott@fortbendhouses.com

Each office independently owned and operated.

Web site by Peace Angels