Thursday, December 28, 2006

10 Most Frequently Overlooked Tax Deductions in Real Estate

Originally Posted on Monday, April 10, 2006

1. Deduct Loan fee "points" paid to obatin a home acquisition mortgage
2. Deduct mortgage refinance fees paid to the lender over the life of the loan
3. Deduct undeducted loan fees rfom a prior home loan refinance
4. Deduct the mortgage prepayment penalty you paid
5. If you changed residences and job location in 2005, your moving costs may be deductable
6. Deduct any uninsured casualty loss
7. Remember to deduct pro-rated property tax in the year of home sale and purchase
8. Deduct pro-rated mortgage interest in year of home sale or purchase
9. Deduct prepaid property taxes and mortgage interest
10. Deduct ground rent if your home is on leased land

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