TaxAudit Blog

Tag: property

Last Will and Testament

I inherited a property located in foreign country from non-US relative, do I need to file 1099-S? I did not receive 1099-S since the property is not in USA.

Read More ›

1099-S Form

When you inherit real property, like a home, then for tax purposes the beneficiaries receive what is called a “stepped-up” basis.

Read More ›

Real Estate Taxes

Real Estate taxes might be deductible on your personal or business taxes, it depends on your situation. Let's start by looking at the tax assessor’s bill.

Read More ›

State and Local Taxes

You can deduct certain state and local taxes (SALT) if you choose to itemize deductions on your tax return rather than claiming the standard deduction.

Read More ›

Mortgage sign and keys

In regard to the personal home mortgage interest deduction on the Schedule A, the answer is yes, but only if certain criteria are met.

Read More ›

house on top of a green hill

My boyfriend and I are buying a house together, and the property includes a rental apartment above the garage. How should we report our rental income?

Read More ›

Two men fixing a roof

I inherited a home in 1988 from my father. I sold that home during the 2014 tax year at a gain. I did considerable renovations on this property...

Read More ›

Man with ball and chain attached to leg

Tired of feeling like the government is taking your last penny? Having trouble making ends meet? There is a solution – provided you are willing to move.

Read More ›

This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.