Tax Breaks for Homeownership

This is a news story, published by Yahoo Finance, that relates primarily to HOA news.

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Homeowner tax deductions

Yahoo Finance

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Business

Business & Economics

8 tax deductions for homeowners to lower their income tax

Summary

Nutrition label

81% Informative

Homeowners' association fees are about as close as you can get to a nuisance fee in the owning-a-home scenario.

Discount points reduce your mortgage interest rate — and can be tax deductible.

You may be able to write off some or all of your HOA fees if you have an investment property.

The profit on the sale of a house is called a capital gain.

You can avoid paying taxes on some or all of that sum under two conditions: - The house has been your primary residence. - You've lived in the home for at least two of the past five years . Currently, the IRS allows a homeowner's exclusion for the first $ 250,000 profit.

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Informative language

Neutral language

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informal

Language

English

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not offensive

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not hateful