We sold a property that qualifies for a $250k capital gains tax exclusion. This property was a home for several years, after which it became a rental property. We have tracked the property's depreciation while we rented it, and we know that up to 25% of this depreciation will be recaptured. The property sold in 2023 and…
We purchased a mobile home in February 2024 to flip and sell. We are still working on it now, as of March 2025, but should be done within the next couple of weeks. Do I need to enter this anywhere on my taxes for this year? We haven't made any money off of this yet, but we have spent a lot of money working on it. Would…
In Georgia, I purchased a mobile home for cash and have been renovating it to make it livable. What if anything can I claim on this for my taxes?
I am self employed and I purchased my first home this year. How will this affect the way I do my taxes? Are there any documents I will need? Are there any new types of deductions I can use?
I sold an old house and bought a new house in 2024. Do I need a special version of Taxact to file?
I just purchased a hone a few mos ago. How do I know what or if I get deductions? Thanks
Home sale
I do I file when I receive loan money from my brother who owns half the deed of house to fix up an apartment and am responsible in paying him back the loan using the potential rental income I would receive from the fixed apartment?
Hello, I bought a house in 2023 and paid some points for the mortgage. I qualify to deduct all of the points in 2023 however my realtor rebates that were to be put towards closing costs was reflected in the closing statement in the points row under the column "Paid by Others". This meant that my 1098 only reflects a small…
I have a fairly large home remodeling project started in 2023 which is in its initial phase and going to last through part of 2024. Is there any part of the expense that I could get a tax break on? FWIW the remodel would add extra sq footage along with additional rooms.
It looks like you're new here. Sign in or register to get started.