Taxes for Homeowners

Tax Deductions for Homeowners

Learn about the many tax benefits of owning your own home.

The Home Office Tax Deduction

Running a business from home can help you lower your tax bill.

When Home Mortgage Interest Is Not Tax Deductible

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

Tax Implications of Reverse Mortgages

As far as taxes go, there are pros and cons to reverse mortgages.

Tax Reasons to Keep Good Records of Home Improvements

"Basis" is an important tax word that every homeowner should know. It simply means the monetary value of a property for tax purposes.

IRS Rules on Real Property Sales to Relatives

Tax issues when you sell a house to (or buy from) a relative

Must I Collect Sales Tax When Renting My Vacation Home on a Site Like Airbnb?

Most states require people who rent out their vacation homes to charge and collect state sales or lodging taxes on the income they earn from short-term rentals.

Are Home Repairs Tax Deductible?

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

What Home Improvements Are Tax Deductible?

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

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.

Can You Take a Theft Deduction for Building Contractor Fraud?

The Tax Cuts and Jobs Act eliminated personal casualty and theft losses except for those related to a presidentially declared disaster.

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.

Deducting Your Property Taxes

Learn what you can include in your property tax deduction.

Deducting Casualty Losses

Casualty losses are deductible but can be hard to claim.

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.

Canceled Mortgage Debt: What Happens at Tax Time?

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

Deducting Medical Home Improvements

You can deduct certain home improvements if their main purpose is medical care for you, your spouse, or your dependents.

Should You Challenge Your Property Tax Assessment in Pennsylvania?

Homeowners in Pennsylvania must pay property tax each year to the local taxing authorities. But has your house been assessed at more than is appropriate?

Should You Challenge Your Property Tax Assessment in New Jersey?

Homeowners in New Jersey who feel their property is too heavily taxed have a potential remedy.

Should You Challenge Your Property Tax Assessment in Illinois?

Homeowners in Illinois must pay property tax each year to the local taxing authorities.

Should You Challenge Your Property Tax Assessment in Michigan?

Homeowners in Michigan must pay property tax each year to the local taxing authorities, but should examine whether the tax amount is based on accurate figures and valuations.

Should You Challenge Your Property Tax Assessment in Texas?

Homeowners in Texas must pay property tax each year to the local taxing authorities. Learn whether you’re eligible for big property tax savings in Texas.