Housing Wire

JUNE 20, 2024

The 2017 law also made interest from home equity loans non-deductible except for when the money is applied to home improvements or renovations. The TCJA also “capped the maximum allowable state and local tax deduction at $10,000 (the so-called SALT cap),” which it said “all but eliminated tax benefits for property taxes on a home.”

Mortgage 497

Mortgage Bracketing Law Property Taxes 497

Zillow

JULY 11, 2019

You can only deduct mortgage interest and repairs you make that restore the property to its original minimally functional condition. You can't deduct capital investments like new buildings, additions or renovations. Capital gains tax. The second tax bill you need to worry about is capital gains tax.

Investing 43

Investing Bracketing Property Taxes Real Estate 43

Raleigh Realty

MARCH 29, 2021

Your gross income is the income before taxes. Consider Property Taxes When you pay for your home, you'll need to pay other fees like property taxes and insurance. You'll need to do some renovations. USDA loans are for those in the low to moderate-income bracket. Are You a Good Neighbor Next Door?

Government 148

Government Real Estate Agent Insurance Property Taxes 148