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First time home buyer and tax deductions

Posted By  

AmyKay

"I'm Addicted"

Member since 10/02

1154 total posts

Wedding Date:
3/23/2003 12:00 AM

Wed. Location:
Watermill A+

First time home buyer and tax deductions

This year will be the first time that myself and my husband will be able to deduct things at tax time.

What type of things can be deducted?
Interest on the mortgage


What about home improvements? Paint and stuff like that or major stuff like a new kitchen?


 

Posted 7/24/04 12:47 PM

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Posted By  

million04@aol.com

Board Fanatic

million04@aol.com

Member since 9/03

738 total posts

Wedding Date:
11/7/2004 3:00 PM

Wed. Location:
John Anthonys

Re: First time home buyer and tax deductions

thats a great question,
I didnt even know that could be done !


 

Posted 7/24/04 2:16 PM

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Posted By  

AmyKay

"I'm Addicted"

Member since 10/02

1154 total posts

Wedding Date:
3/23/2003 12:00 AM

Wed. Location:
Watermill A+

Re: First time home buyer and tax deductions

I'm not sure if home improvements can be deducted.
I hope so


 

Posted 7/24/04 2:51 PM

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Posted By  

MrsTC

My Casey Girl!

MrsTC

Member since 3/03

8059 total posts

Wedding Date:
9/27/2003 1:00 PM

Wed. Location:
The Coral House

Re: First time home buyer and tax deductions

if home improvements can be deducted - i will have to drive to the landfill to dig up my receipts! lol


 

Posted 7/24/04 3:03 PM

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Posted By  

DjPiLL

Mr. & Mrs. Pill

DjPiLL

Member since 4/04

4154 total posts

Wedding Date:
5/28/2005 5:00 PM

Wed. Location:
Swan Club A+

Re: First time home buyer and tax deductions

You might want to have an accountant do your taxes the first year of owning the house just so you don't screw it up. I have done all my taxes every year... even with the co-op. But when I get a house... i am probably gonna have the accountant do it one year to see how he works it.


 

Posted 7/24/04 3:39 PM

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Posted By  

Valentinegirl

*~*~*~*~*~*~*~*

Member since 7/03

7234 total posts

Wedding Date:
11/14/2010 12:00 AM

Wed. Location:

Re: First time home buyer and tax deductions

I thought home repairs can be deducted but all my home improvements have been cash only so they don't charge tax. (Tree removal, and roof). Oh well.


 

Posted 7/24/04 4:54 PM

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Posted By  

janwinterbridejoy

islanders season

janwinterbridejoy

Member since 12/03

6827 total posts

Wedding Date:
1/9/2004 2:30 PM

Wed. Location:
chateau briandA+

Re: First time home buyer and tax deductions

some types of home improvement can be deducted i see people do it all the time.


 

Posted 7/24/04 5:56 PM

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Posted By  

kimmie

Board Fanatic

kimmie

Member since 7/03

828 total posts

Wedding Date:
9/25/2004 3:00 PM

Wed. Location:
Larkfield Manor-A++++

Re: First time home buyer and tax deductions

So much can be deducted definately have an accountant do your taxes its so worth it. Congrats on the house where is it in E NPT? Looks familiar...


 

Posted 7/25/04 12:48 PM

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Posted By  

AmyKay

"I'm Addicted"

Member since 10/02

1154 total posts

Wedding Date:
3/23/2003 12:00 AM

Wed. Location:
Watermill A+

Re: First time home buyer and tax deductions

I'm just going to make a folder and keep every receipt we get.
An accountant will be doing are taxes, that's for sure!


 

Posted 7/26/04 8:53 PM

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Posted By  

dgtlsunshine

Back to the Workforce :)

dgtlsunshine

Member since 12/01

2828 total posts

Wedding Date:
7/7/2002 12:00 AM

Wed. Location:
Coral House

Re: First time home buyer and tax deductions

My mom has always deducted home improvements


 

Posted 7/26/04 11:01 PM

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