1. Home
Send to a Friend via Email

Taxes - Real Estate Tax Consequences and Law

Owning real estate has tax liabilities and consequences as well as providing tax benefits to home owners. Here is how to determine if loan points are tax deductible, how to take home disaster loss deductions, among other tax information articles.

At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

How Are Tax Deductions Restricted for Mortgage Refinancing?
How mortgage refinancing can limit or reduce a homeowner's tax deductions. An explanation of the tax rules regarding interest deductions for mortgage refinancing.

How Canceled Debt on a Short Sale Might Result in a Tax Liability
How some short sale sellers can end up paying taxes on canceled debt. Plain-language advice for owners doing a short sale on how to sidestep pitfalls and taxation from canceled debt or forgiven debt.

Tax Breaks for Victims of Natural Disasters
How U.S. taxpayers can deduct losses caused by a natural disaster. The limitations for natural disaster and casualty loss tax deductions.

Tax Breaks for Home Selling
Tax breaks for home selling. How the IRS treats profits above the exclusion guidelines. Whether home sellers pay taxes on the sale of personal property.

Home Losses on a Personal Residence
How to write off a home loss on your personal residence by turning it into a rental. IRS guidelines and expert tax advice about deducting home losses from your tax return.

Tax Consequences for Home Business Offices
Tax consequences when your home has been partly depreciated due to maintaining a business office and then sold. Whether you need to recapture depreciation write-offs.

Loan Points - Are Loan Points Tax Deductible?
What are points and how do loan points work? How do points qualify as a tax deduction? Why buyers can write off loan points that sellers pay. How to write off prepayment penalties from taxes.

Disaster Home Losses - How to Write Off Uninsured Home Losses
Here's how to know which uninsured losses are eligible to write off your taxes. In the event disaster strikes your home, be prepared for documenting losses from acts of nature, theft or casualty. How to make an inventory list of household belongings and content.

Biography of Julian Block
Biography of Julian Block, an attorney in Larchmont, New York, and a contributing guest writer to homebuying.about.com.

Discuss in my forum

©2014 About.com. All rights reserved.