
- Mortgage Interest on Primary or Second Home (Current versions from IRS website) http://www.irs.gov/pub/irs-pdf/p936.pdf
- Primary Mortgage Insurance (PMI)http://www.irs.gov/pub/irs-pdf/p936.pdf (page 8)
- Pointshttp://www.irs.gov/pub/irs-pdf/p936.pdf (page 5)
- Interest on a Home Improvement Loan or Equity Line http://www.irs.gov/pub/irs-pdf/p936.pdf(page 10)
- Property Taxes http://www.irs.gov/taxtopics/tc503.html
- Home Office Deduction(if used as office or storage for business). New simplified deduction started for tax year 2013 http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Simplified-Option-for-Home-Office-Deduction or the regular deduction http://www.irs.gov/pub/irs-pdf/p587.pdf
- Selling Costs http://www.irs.gov/pub/irs-pdf/p523.pdf
- 8.Capital gains exclusion http://www.irs.gov/pub/irs-pdf/p523.pdf (page 10)
- Moving Costs for job(minimum 50 miles) http://www.irs.gov/pub/irs-pdf/p521.pdf
- Mortgage income tax credit(MCC) for low/middle income earners who are first- time homebuyers (no primary home interest within 3 years) with low to moderate income. Certificate must be obtained during the original purchase through a lender approved by and trained for the program. In CA: http://www.calhfa.ca.gov/homebuyer/programs/mcc.htm
- The Nonbusiness Energy Property Credit (extended through Dec 31st, 2014 but this IRS link has not been updated to reflect that as of 1/31/15) http://www.irs.gov/uac/Newsroom/Energy-Efficient-Home-Improvements-Can-Lower-Your-Taxes
Mortgage interest rates are still at record low so if you have been thinking about buying a mountain home in Tahoe Truckee – call/text Ann Nguyen 530-545-3458. I would love to help you get your mountain dream home and put these tax deductions to work for you.