Sitemap: Home Selling in Killeen, Ft. Hood, Harker Heights and Temple, Texas - Get Expert Advice From Mary Belote Family Realtors

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Why Sellers Choose Mary Belote Family Realtors - Why home sellers in Killeen, Ft. Hood, Harker Heights and Temple choose Mary Belote Family Realtors.
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School Reports in Killeen, Ft. Hood, Harker Heights and Temple, Texas

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Tax Considerations >Tax Deductions

Here is a question which is often asked about real estate sales: which home loan fees are deductible for income tax purposes? It is good to know the answer to this question before you sign on the dotted line. It may influence which loan you will choose. Loan fees for certain services are not itemized on your fee statement, but are grouped together into a single category.

The most obvious deductible fee is the loan fee paid to acquire a mortgage for a principal residence. The IRS recently ruled that the buyer could deduct the fee in the first year, even if the seller paid it! Other deductions include pro-rated property taxes and mortgage interest. On these items, the buyer may only deduct their share.

Most of the other closing costs are not deductible, but you may add them to your home's adjusted cost basis when calculating appreciation. Among these costs are appraisal, attorney, and inspection fees, as well as title, recording and notary fees. Fire insurance fees are neither deductible nor do they figure into the cost basis. If you are not sure which fees are deductible, consult a professional tax advisor.

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Q	Where was the famous final airport scene in the 1942 classic "Casablanca" filmed?
A	The scene where Humphrey Bogart says goodbye to Ingrid Bergman was actually shot on the east side of the Van Nuys Airport.
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Mary Belote Family Realtors, REALTOR®, real estate agents and broker for Killeen, Ft. Hood, Harker Heights and Temple, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Mary Belote Family Realtors
Coldwell Banker United
2206 East Central Texas Expressway
Killeen, Texas 76543
Mary Belote: (254) 289-2447
Christi Curb: (254) 702-1555
Cindy Adamson: (254) 289-6358
Fax: (254) 519-7794
marybelote@NUMBER1EXPERT.com
christicurb@embarqmail.com
cindyadamson20@yahoo.com
lsthompson@clearwire.net
Why Our Team? It's A Family Thing! Dedicated To The Highest Service, Mary Belote of Coldwell Banker United, Realtors has been serving families from the Fort Hood, Killeen, Temple, and Belton area for over 27 years with their real estate needs. Her experience working with military families and their relocation requirements have made Mary one of the most qualified and trusted names in the real estate business. Mary's team includes daughters Christi Curb and Cindy Adamson who have caught their mother's vision of helping families achieve the American Dream of owning their own home. Soon, Mary's youngest daughter Lisa Thompson, will be joining the team. Call Mary today and let her family team go to work for you!

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