http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html personal finance blog with anecdotes, advice and commentary. Sun, 12 Feb 2012 23:30:41 +0000 hourly 1 http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html/comment-page-1#comment-4859 Personal Finance Blog Sun, 19 Mar 2006 22:18:56 +0000 http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html#comment-4859 RS, you are correct. Normal people usually cannot expect true tax savings down the road. RS, you are correct. Normal people usually cannot expect true tax savings down the road.

]]> http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html/comment-page-1#comment-4858 RS Sun, 19 Mar 2006 21:48:24 +0000 http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html#comment-4858 After thinking about it some more, it seems like this may only be useful if you sell your house for more profit than you are allowed to take tax free. Since I am married, I would have to sell my house for a $500,000 profit. This part is tax free...then I could deduct the cost of repairs and improvements from my profit to try to get it under $500,000 so I don't pay taxes? Anyone know if that is correct? Does it work like that or could I actually deduct those expenses from my regular taxes and perhaps offset some stock gains or something? After thinking about it some more, it seems like this may only be useful if you sell your house for more profit than you are allowed to take tax free. Since I am married, I would have to sell my house for a $500,000 profit. This part is tax free…then I could deduct the cost of repairs and improvements from my profit to try to get it under $500,000 so I don’t pay taxes? Anyone know if that is correct? Does it work like that or could I actually deduct those expenses from my regular taxes and perhaps offset some stock gains or something?

]]> http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html/comment-page-1#comment-4857 RS Sun, 19 Mar 2006 21:35:15 +0000 http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html#comment-4857 Really? I had never heard that either. Guess it isn't advertised very well. I will have to keep that in mind for my new house. It kind of stinks that I just sold my old house last year...probably missed out on some deductions. Really? I had never heard that either. Guess it isn’t advertised very well. I will have to keep that in mind for my new house. It kind of stinks that I just sold my old house last year…probably missed out on some deductions.

]]> http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html/comment-page-1#comment-4854 raising4boys.com Sun, 19 Mar 2006 20:53:06 +0000 http://www.bargaineering.com/articles/tax-relief-101-real-estate-deductions.html#comment-4854 Would fencing your backyard fall under #2? Would fencing your backyard fall under #2?

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