Find out why I am a top expert at buying & selling homes. Ask me about my 30 point action plan! Call 602-870-8737 or email Jason@ThePenroseTeam.com.
|
Sign Up For My eNewsletter, FREE!
There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
Find Out More >
View All Offers >
|
"Thank you so much for the wonderful job!"
"We were very impressed with how smoothly the process of selling our home went."
Andy, Bridget, Drew, & Riley Smallwood
Read Quote >
View All Quotes >
|
 Compare
three mortgages at one time. Download TripleCalc now. It's
free. |
Jason Penrose
is one of The Top Selling Real Estate Experts™
Find Out More > |
|
|
Tucson Real Estate-Eli McCauley
Eli McCauley with Long Realty is one of my preferred partners in Tucson! Contact him today!
Find Out More >
|
|
Phoenix, Scottsdale and Tempe Information:
About Phoenix, Scottsdale and Tempe - Moving to Phoenix, Scottsdale and Tempe, Arizona? Get info here... School Reports - Reports for Phoenix, Scottsdale and Tempe schools kindergarten, elementary, and high schools. Relocating? - Free real estate information & relocation package if you're relocating to Phoenix, Scottsdale and Tempe, in Maricopa County AZ. Go to Main Sitemap - Main sitemap sections include Find Phoenix, Scottsdale and Tempe Homes, For Home Buyers, For Home Sellers, Phoenix, Scottsdale and Tempe Information, Real Estate Resources, and About Jason Penrose.
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 |
Where is the world's longest spiral staircase?
|
| A |
The White County Coal Mine in Carmi, Illinois has a spiral staircase that measures 1,103 feet and has 1,520 steps. |
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
