Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (12) | Ignore Thread Prev | Next
Author: 1000nam One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124931  
Subject: Re: Buying a condo Date: 8/29/2002 5:41 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Thanks Ira, Lorenzo and cjbb for your responses. Your info on the subtleties of deducting points was very useful. I was looking for some easier to read material on the various tax deductions other than IRS's turgid prose.

Just to clarify this is a first-time home ownership. I have itemized deductions for 2001, no thanks to high income taxes in CA, so I am somewhat familiar with this. I just wasn't familiar with all the the rules for deducting points or real-property taxes. Last year I learnt that I could deduct some of the auto registration fees (the value-based personal property tax) but not the tag fee. I was just wondering if there are similar complexities in deducting real-property taxes or points or other settlement costs. I just didn't want to miss out on any
tax breaks I am entitled to.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (12) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.