Feature
Properties
|
All agents are NOT alike! Find out why I am a top real estate expert. Call me: 928-854-5502.
|
Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
Find Out More >
View All Offers >
|
 Compare
three mortgages at one time. Download TripleCalc now. It's
free. |
Kathy Woolsey
is one of The Top Selling Real Estate Experts™
Find Out More > |
|
|
|
Find Lake Havasu City Homes:
Feature Homes - Homes for sale, listings, properties, & other real estate in Lake Havasu City, Arizona, with virtual tours, photos, and more. Serving Mohave County Real Estate. National Listings Databases - Homes for sale in national American USA web site listings databases of properties. New Construction - New homes for sale, new construction and newly built properties and real estate subdivisions Unique & Luxury Homes - Home buyers, find luxury homes, real estate, beach front properties, mansions, & acreage/land for sale on these top national & international listings web sites. International Properties - Find international homes for sale on these international/global real estate web sites from Canada, Europe, France, Germany, UK, Great Britain, Spain, Italy, Asia, Africa, and beyond. Search ALL the Experts' Homes - Search the best local homes for sale from all the real estate experts, agents, REALTORS®, and brokers. Go to Main Sitemap - Main sitemap sections include Find Lake Havasu City Homes, For Home Buyers, For Home Sellers, Lake Havasu City Information, Real Estate Resources, and About Kathy Woolsey. 
Please Sign Up For The Latest Listings and the Latest Real Estate News
 |
Tax Considerations >Tax Deductions
Here is a question which is often asked about real estate sales: which home loan fees are deductible for income tax purposes? It is good to know the answer to this question before you sign on the dotted line. It may influence which loan you will choose. Loan fees for certain services are not itemized on your fee statement, but are grouped together into a single category.
The most obvious deductible fee is the loan fee paid to acquire a mortgage for a principal residence. The IRS recently ruled that the buyer could deduct the fee in the first year, even if the seller paid it! Other deductions include pro-rated property taxes and mortgage interest. On these items, the buyer may only deduct their share.
Most of the other closing costs are not deductible, but you may add them to your home's adjusted cost basis when calculating appreciation. Among these costs are appraisal, attorney, and inspection fees, as well as title, recording and notary fees. Fire insurance fees are neither deductible nor do they figure into the cost basis. If you are not sure which fees are deductible, consult a professional tax advisor.
|
|
| Q |
What is considered one of the greatest U.S. construction projects that was also of great strategic importance to the U.S.?
|
| A |
The Panama Canal, begun in 1904 and completed in August, 1914, which cost $366,650,000. |
| See More Real Estate Trivia > |
|
NUMBER1EXPERT™
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed. |
- NUMBER1EXPERT™ 
