This easy-to-read, up-to-the-minute guide shows property owners how to cut tax exposure on real estate. Organized for quick reference, the question-and-answer format describes the biggest and best tax write-offs for your home mortgage, vacation home, rental property, property taxes, home office, etc. Also shows how to save tax dollars when selling your home or rental property. Covers tax planning strategies, tax aspects of the entire home ownership cycle, partnerships, REITS, and tax aspects of common situations such as theft or fire, home-office, purchase of a home by offspring, retirement options, divorce, and more.
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Table of Contents
Partial table of contents:
Tax-Planning Basics for the Homeowner and Real Estate Investor.
Buying a Home.
Getting and Deducting Your Home Mortgage.
Deducting Property Taxes.
Avoiding Tax on Selling Your Home.
Fire, Theft, and Other Casualty Losses.
Getting the Most Tax Breaks out of Your Home Office.
Older TaxpayersSpecial Tax Breaks.
Divorce and Your Home and Other Real Estate Investments.
Charity Starts at Home.
Medical Expenses and Your Home.
Your Real Estate Investment Strategy.
Limitations on Real Estate Investment Deductions.
Getting Started in Rental Real Estate Investments.
Buying Rental Real Estate.
Building and Renovating Real Estate.
Operating, Leasing, and Depreciating Real Estate.
Getting the Most Tax Breaks from Your Vacation/Second Home.
Tax-Smart Ways to Sell Your Rental Property or Vacation Home.
Other Real Estate Investments: Limited Partnerships, MLPs, REITs, and REMICs.