The Top Ten Real Estate Tax Deductions For Homeowners

The Top Ten Real Estate Tax Deductions For Homeowners

As the time to file income taxes approaches, we need to take a new look at the changing tax landscape for homeowners. The dynamic atmosphere in Washington, D.C. has a different effect each year on which tax breaks are proposed, rescinded, changed, and extended for taxpayers who own a home.

Thanks to the efforts of many real estate industry groups including the National Association of Realtors, many of the  tax benefits that homeowners enjoy–which were on the chopping block over the past few months–have been protected and extended through the 2013 tax season. Here is a quick list of the Top 10 tax deductions for homeowners: 

1.  Mortgage Interest Deduction
2.  Home Improvement Loan Interest Deduction
3.  Private Mortgage Insurance (PMI) Deduction
4. Mortgage Points/Origination Deduction
5. Energy Efficiency Upgrades/Repairs Deduction
6. Profit on Sale of Real Estate Deduction
7. Real Estate Selling Cost Deduction
8. Home Office Deduction
9. Property Tax Deduction
10. Loan Forgiveness Deduction


This is a quick check list. To read the full article, please visit This Link on Realtor.com.


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Phone: 417-860-6505
Dated: November 8th 2013
Views: 383
About Michelle: Michelle is a native of Southwest Missouri and has twenty-five years of experience in selling real e...

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