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Welcome! Here You Can Find Great Information on Fort Hood, Harker Heights, Killeen and Copperas Cove, Texas Real Estate
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Looking for homes? Search everything the web has to offer, right here! Don't miss my Feature Homes. Need local real estate information? I've summarized much of what is important about the Fort Hood, Harker Heights, Killeen and Copperas Cove real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top Realtor. Not even mine! This site is filled with ways that you can contact me for one-on-one expert help and advice. That's my job. Contact me with confidence! I guarantee your privacy will be respected. And I offer the services on this site for free and without obligation. Why? I want to be YOUR Realtor. As your trusted, professional real estate partner, I will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As a top Fort Hood, Harker Heights, Killeen and Copperas Cove Realtor, I have the experience and track record you are looking for. Please let me help. - Carole Anderson  |
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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.
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Where will you find the world's largest indoor waterfall?
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The lobby of the International Center in Detroit, Michigan has a waterfall of 114 feet, backed by 9,000 square feet of marble. |
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