Category: Real Estate Taxes
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Capital Gains: Were Profits on Your 2023 Home Sale EXEMPT? Head Form 1099-S Off at the Pass.
People who sold their homes in 2023, after living in them for a while and enjoying their low mortgage rates, have seen big gains in their property values. Fortunately, most of these gains won’t be taxed. If you sold a home in 2023, your lender or broker may give you Form 1099-S. Federal law requires…
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Do-It-Yourself Stimulus? The Rise of the Property Tax Protests
For years running, Texans have been protesting their property taxes. This year (2021), Texas homeowners had until May to object to their county assessors’ valuations of their homes. When they win their cases, their homes’ market prices don’t change. But their tax bills do. County procedures enable Texas homeowners to contest their property tax assessments.…
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Real Estate Taxes: Tips and Updates
The new deadline for filing last year’s taxes is Wednesday, July 15, 2020. Time to review the current tax implications of owning a home. First, we need to itemize homeowner deductions if we decide to claim them on our federal returns. There are a number of deductions available, but if you’re like most homeowners, you…
