Tag: typical

Your deduction for real property taxes the corporation paid this year is reduced by your share of the refund the company obtained. You can’t deduct switch taxes and similar taxes and charges on the sale of a private home. If you’re the purchaser and also you pay them, embrace them in the cost foundation of the property. If you are the seller and you pay them, they’re expenses of the sale and reduce the quantity realized on the sale. You paid a portion of the mortgage interest or state and native real property taxes from your individual sources (that is,…