Homeowner Deductions and Credits

Determining Your Home's Tax Basis

Your tax basis in your home will be a key factor in calculating your tax gain or loss when you sell your home.

Will You Have to Pay the 3.8% Medicare Tax When You Sell Your House?

Find out more about the new Medicare tax on unearned income.

Deducting a Loss on the Sale of a Home

Losses on personal residence sales are not deductible unless you have converted the property to a rental.

Deducting Your Property Taxes

Learn what you can include in your property tax deduction.

When Home Mortgage Interest Is Not Tax Deductible

The home mortgage deduction is one of the most popular in the entire tax code.

Canceled Mortgage Debt: What Happens at Tax Time?

Some taxpayers who've had mortgage debt cancellation can exclude the forgiven amount from their income for federal tax purposes.

What Home Improvements Are Tax Deductible?

Home improvements can provide certain tax benefits although not tax deductions.

Are Home Repairs Tax Deductible?

Home repairs are not deductible but home improvements are. It pays to know the difference.

What Constitutes a Deductible Casualty Loss?

Suddenness is the hallmark of a casualty loss. Find out what type of events qualify.

Rent Your Vacation Home Tax-Free

This often overly exception for short-term rentals can provide a real windfall if you own a vacation home in a desirable location.

Tax Issues When Renting Out a Room in Your House

Find out what tax deductions you can get for renting a room in your home.