Electric vehicle charging stations can give you money back on your tax bill. If you install any alternative energy charging ...

From April 2023, the law clarifies that any interest claimed as a deduction under house property income cannot be included in the cost of acquisition. However, unclaimed housing loan interest can ...

Owning a home involves more than just a mortgage payment. From maintenance to property taxes, the financial responsibilities ...

However, a special rule applies to gain on the sale of rental property for which you took depreciation deductions. When depreciable real property held for more than one year is sold at a gain ...

Here’s the step-by-step process: The 2017 Tax Cuts and Jobs Act limits the deduction for state and local taxes, including ...

Can I deduct sales tax on Schedule C? Sales tax is deductible under Tax ... Any expenses related to the maintenance or management of a property can be deducted right away by the owner. Interest on ...

Personal property tax. You can deduct state and local ... to the amount in the IRS sales tax table -- if you choose to deduct sales taxes instead of income taxes on your federal return.

Deduction cap for property taxes. Home-office deduction for self-employed only. Tax exclusion for home-sale profits. The tax deduction for mortgage interest is one of the most valuable tax breaks ...

These are used to report both gains and losses. You can deduct losses on the sale of anything the IRS considers an asset. That includes stock, land, or works of art, among other types of investments.