Welcome Guest. Register Now!  


Itemized Deductions Schedule-A


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-16-2009, 02:58 PM
Junior Member
 
Join Date: Feb 2009
Posts: 1
Deductible home selling costs

We sold our primary home in 08. Of all the selling fees which ones are deductible?

Commissions
Title Chargers
Government Recording and Transfer Chargers
Home Warranty

Where would you enter them in the federal tax forms?


Last edited by SteveB : 02-16-2009 at 07:09 PM.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-17-2009, 11:15 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
The Commissions, Title Chargers and Recording & Transfer Chargers are all reported as part of Selling Expenses and reported as part of the cost basis on Schedule D. The transaction is treated as a sale of a capital asset and so you have to enter the sale date, acquisition date along with the original cost, selling price and expense of the sale.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 08-26-2011, 11:03 PM
Junior Member
 
Join Date: Aug 2011
Posts: 1
Trading Your Home? The easiest way To Maximise it’s Value

Are you planing to trade your homes and you want to obtain a greater net income or just to raise the overall value for property maintenance. There are lots of economical ways that you might do so without having to pay more money.

First, could be to clean and make the property neat. Full general cleanup of the house is one of the first step during the time you want to get the style of the home. Clutter and junk can distract the potential buyers. A home that is free from clutter will often appear bigger. You can rid all the debris and other things you do not use frequently like season-decorations by placing it in a box and place it on the attic where it is out of sight or you may rent a stock house which you are able put in those things that you do not use too often.

After cleaning up, the next is painting the home. Painting the wall structure with neutral colors can append value to the abode plus the neutral colors is fitted for any type of lifestyle. Give importance as well on how the home how it looks from outside. This can develop the first impression to the potential buyers, so it is advisable to give your best and make the house presentable as possible.

You can set flowers at rim of the roads and close main door. Be sure that this flowers and other plants are well-positioned. And also keep the grass trimmed back and raked all the leaves and any garbage.

Other most important area in the house is the kitchen conditions. Though, kitchen is somehow pricey when you are improving because you need to replace the lockers. You can save money if you buy some paint rather, paint the lockers with instinctive wood color it can make a difference and then it will help if you exchange the lockers and countertops handle.


Last edited by TaxGuru : 08-30-2011 at 01:15 PM.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Unsold home interest deductible wagman Itemized Deductions 2 02-01-2009 05:43 PM
IRS allows costs for setting up guardianship for Alzheimers patient to be deductible! TaxGuru Medical 0 11-04-2008 11:45 AM
Can the mortgage interest on Land intended to build a 2nd Home be deductible? bookkeeping Itemized Deductions 1 05-02-2008 11:24 PM
Why Tax loss selling is not the best idea for Volatile Stocks? TaxGuru Capital Gains 6 01-14-2008 12:56 PM
Office at Home Expenses-What is deductible? BebopVT Sole-Proprietorship 0 01-19-2007 07:46 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.