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Deducting Health Insurance Premiums If You're Self-Employed
Most self-employed taxpayers can deduct health insurance premiums, including age-based premiums for long-term care coverage. Write-offs are available whether or not you itemize, if you meet the requirements. Read more…

Tax Deductions for Rental Property Depreciation
When you rent property to others, you must report the rent as income on your taxes. But you can deduct, or subtract, your rental expenses—the money you spent in your role as the person renting out the property—from that rental income, reducing your tax obligation. Many expenses can be deducted in the year you spend the money, but depreciation is different. Read more…

What is IRS Form 8859: Carryforward of D.C. First-Time Homebuyer Credit
Form 8859 is a tax form that will never be used by the majority of taxpayers. However, if you live in the District of Columbia (D.C.), it could be the key to saving thousands of dollars on your taxes. While many first-time home purchasers in D.C. are entitled to a federal tax credit, Form 8859 calculates the amount of carry-forward credit you can use in future years, not the amount of your initial tax credit. Read more…

Tax Breaks and Home Ownership
Home ownership brings with it not only many trips to home improvement stores, but also a slew of tax breaks. It's up to you to take full advantage of the write-offs available to you. Here's what you can and can't deduct. Read more…

Claiming Property Taxes on Your Tax Return
If you pay taxes on your personal property and owned real estate, they may be deductible from your federal income tax bill. Most state and local tax authorities calculate property taxes based on the value of the homes located within their areas, and some agencies also tax personal property. If you pay either type of property tax, claiming the tax deduction is a simple matter of itemizing your personal deductions on Schedule A of Form 1040. Read more…

More Home Ownership Articles

Federal Tax Deductions for Home Renovation Video: Tax Deductions When Buying or Selling a Home Video: Deducting Mortgage Interest and Property Tax Video: Federal Tax Deductions for Home Renovation Energy Tax Credit: Which Home Improvements Qualify? Video: Can We File Two Primary Residences if Filing a Joint Tax Return? Buying Your First Home Home Improvements and Your Taxes Video: Guide to Short Sales, Foreclosures and Your Taxes Tax Tips for Foreclosures How Short Sales and Foreclosures Affect Your Taxes Home Foreclosure: What's Your Tax Liability? How to Avoid Taxes on Canceled Mortgage Debt Tax Aspects of Home Ownership: Selling a Home Federal Tax Credit for Residential Solar Energy Homebuyer Tax Credit: 7 Surprising Facts Home Ownership Tax Deductions Buying a Second Home—Tax Tips for Homeowners Tax Law for Selling Real Estate Guide to 1098 Tax Forms Tax Tips for Short Sales What Are Home Renovation Tax Credits? Tax Deductions for Conservation Easements of Property Paying Property Taxes Online Are Home Interest Loans Deductible From Taxes? Video: Renting vs Buying a Home: Tax Breaks You Should Know Video: What Are Energy Tax Credits? What Are Energy Tax Credits? Video: Tax Tips for Paying Property Taxes Online Deducting Mortgage Interest FAQs Video: Home Repairs and Tax Deductions Can You Claim a Boat or RV as a Primary Residence? What are the Tax Implications of Involuntary Conversions? About Tax Deductions for a Mortgage What Are Personal Property Taxes? How to Estimate Property Taxes Mortgage Refinance Tax Deductions Real Estate Tax Tips: Owning Property as a Tenancy in Common How to Deduct Mortgage Points on Your Tax Return Real Estate Tax Tips for the Owner of Record Video: Federal Tax Credit for Solar Energy What Is the IRS Form 5405? Video: Learn about the First-Time Homebuyer's Credit 10 Energy-Related Home Improvements You Can Make Today Taking the First-Time Homebuyer Credit Conserve Energy, Save Money with Larger Credits Unmarried First-Time Homebuyers: Who Gets the Credit for a 2010 Purchase? Video: The 2010 Energy Tax Credit

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