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What explains why people with higher incomes favor buying a home over renting?

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Buying is an investment, but it's also more expensive.
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If you rent out your house do you have to claim it as an income?

Sure you do you will have to use the 1040 tax form along with the schedule E Supplemental Income and loss form to report your gross rental income and expenses on the rental re

How can buying a home help with your income taxes?

Home interest increases your deductions   The interest you pay when you buy home is an itemized deduction on your tax return. As long as the interest and your other itemi

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In the short run, yes. However, after buying a home, the home will typically gain value over the years as you pay it off. Not to mention that if you intend to live in the same

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