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There are some things that you can get a tax credit for in 2007, like windows, air conditioners, water heaters and others IF they meet the qualifications. Check the IRS website. My 13 SEER heat pump didn't work, but I think the 15 SEER would have.
When you sell your home, then you can subtract the cost of some improvements--like adding a room, updating the bathroom-- from the capital gains, if you made money. If you are renting out the home and add features that the renter will use (there are limits), then those items can sometimes be depreciated.
What else can I help you with?
Do you have to file taxes if im an at home mom...what if i dont have a job?
If you are unmarried and have no income you do not need to file. If you have a spouse that works then you must file a joint return.
Do you have to file taxes in a state you own a home but do not live or work in?
No you don't, Only the state u live and work in
How many people can file for taxes in the same home?
There is no maximum or minimum. The number of people or that can or must file in a house, or family, is NOT even addressed in US rules. It is irrelevant.
What happens when siblings inherit home and refuse to pay taxes?
The town will take possession of the property for delinquent taxes, file a petition in court to acquire title and then the town will sell the property.
If you live in Georgia but work in Alabama which state tax form should you file?
i go to school and work in ala but my home is in ga. i filed my taxes with turbotax. do I still have to file with ala
Can a person on ss and paid interest on her home file taxes?
Yes you can.
Can you file your home insurance on taxes this year?
No
Can you transfer your Maryland home improvement license to another company?
can you transfer a home improvement license to another person
Home day care not filing taxes?
All home daycare providers must file taxes each year. If they do not, they are breaking the law.
Can I borrow from my IRA for home improvement projects?
Yes, you can borrow from your IRA for home improvement projects, but there may be penalties and taxes involved. It's important to understand the rules and implications before making a withdrawal.
Do you have to file taxes if im an at home mom...what if i dont have a job?
If you are unmarried and have no income you do not need to file. If you have a spouse that works then you must file a joint return.
What are the eligibility criteria for claiming the home improvement loan interest deduction on my taxes?
To claim the home improvement loan interest deduction on your taxes, you must meet the following criteria: the loan must be used to make improvements to your primary or secondary residence, the loan must be secured by your home, and the improvements must add value to the property.
Im on unemployment when i file my taxes can i put my home on there too?
Yes you would file your 1040 income tax the same as you always have.
Where can you buy a metal file?
Quality metal files are essential for woodworking and metalworking. They can be purchased at home improvement stores, such as The Home Depot and Lowe's. Harbor Freight Tools also has a selection of metal files.
What expenses can you deduct on your taxes when selling a house?
When selling a house, you can potentially deduct expenses such as real estate agent commissions, legal fees, and certain home improvement costs from your taxes.
In North Carolina can medicaid take a person's home after she dies if she has received medicaid benefits in nursing home?
Medicaid will file a lien on the person's home, which is enforceable when the home is sold. They will also file an estate claim.
Can you have both a home equity and a home improvement loan at the same time?
Yes, it is possible to have both a home equity and home improvement loan at the same time. The home equity loan will typically be guaranteed by the value of the property and the home improvement loan will typically be an unsecured personal loan. Ideally, one would use the home equity loan (or line of credit) for home improvement activities in order to write off a portion of the interest paid from their taxes (unsecured personal loans do not get the same tax treatment).
