If you co-own a home with someone who is not your spouse, such as a significant other or sibling, special tax rules apply to you during the period of ownership as well as at the time of sale. Watch fo...

Real estate taxes vary considerably from location to location. You may be able to save money and taxes by taking certain action.Consider prepaying an upcoming tax bill before the end of the year t...

Things can get complicated when it comes to real estate taxes in the year you buy or sell your home. For example, if you buy the property at a tax sale, you cannot start to deduct property taxes until...

Your burden of paying local property taxes, including city, town, and/or county taxes and school taxes, can be eased somewhat by deducting your payments.You must itemize deductions to deduct real ...

When you die, the property you leave behind (called an estate) may be subject to a federal estate tax for the right to pass the estate on to heirs and beneficiaries. Under pre-2010 law, there was no e...

When the real estate market is hot, savvy investors may look to real estate as a way to make fast cash. They buy a home, do some cosmetic fix up, and then resell the property. In very hot markets, hom...

Do you own rental property? Anything from a strip mall, multifamily home, office building, or factory can be a potential profit center for you. If you want to cash in on appreciation you've experience...

Selling your home at a profit? You may be eligible to notpay tax on the first $250,000 of gain from the sale, or up to $500,000 on a joint return. To do this, you must meet answer "yes" to key tests. ...

The tax law lets you receive tax-free income when you sell your main home-capital gain up to $250,000 ($500,000 on a joint return) is not taxed. However, prices today are much higher than they were 10...

Whether you're buying your first home, upgrading to a larger one or downsizing, here are some things to think about in the year of purchase: __What form of ownership? If you're buying a home with some...

One of the biggest breaks in the tax law is the opportunity to receive tax-free income when you sell your home-up to $250,000 of gain can be tax free ($500,000 on a joint return). Qualifying for this ...

You may be able to generate income by renting out your main home or a second home for part of the year. For instance, say you own a beachfront condo in Miami or a house on Cape Cod. If you're willing ...

Some seniors face a cash crunch even though they're sitting on considerable equity in their home. They don't want to take out a new mortgage because they may not be able to make the monthly payments. ...

If you or someone in your household has a condition that requires certain capital improvements, you may gain an immediate tax break. Normally, home improvements, other than certain energy upgrades tha...

If your home is too big for you and your family, you may decide to rent out a room or other living space for rental income. For instance, say you have a two-family home, so you rent out one unit. The ...

Being a homeowner entitles you to deduct many of the costs you pay each year, including property taxes and mortgage interest. Here are some tips to help you get the most from your deduction opportunit...

In order to lower the interest rate on a mortgage, you may be able to make an up-front payment, called "points." A point is a type of interest charge that represents 1% of the mortgage amount, so two ...

For PMI obtained only in 2007, the premiums are treated as interest deductible as an itemized deduction as long as the homeowner's adjusted gross income (AGI) is no more than $100,000 (the deduction p...

The desire to join the nearly 70% of Americans who are homeowners entails various intangibles: pride of ownership and becoming a part of a neighborhood. Home ownership also has a direct impact on your...

Raising enough cash for a down payment and closing costs can be challenging with all the other expenses you have to pay on an ongoing basis. Typically, the down payment is at least 20% of the price of...