Tag

Selling in the Year of Divorce or Later When a couple is divorced as of the end of the year their principal residence is sold, the tax law considers them divorced for the entire year. Therefore, they are unable to file jointly for the year of sale. Of course, the same is true...

The federal income tax rules on qualified residence interest have been around for many years, but there’s always a steady flow of disagreements between the IRS and taxpayers on these rules. Here are some background materials and recent developments on qualified residence...

In addition to helping you build wealth, owning a home provides valuable tax breaks. Knowing about potential tax savings associated with homeownership is the best way to get the most out of this major investment — taking tax advantage of your home. Positively in debt You’re...