Tax Information for First-Time Homeowners Provides tax information for first-time homeowners including how you treat items such as settlement and closing costs, real estate taxes, home mortgage interest, and repairs. Let H&R Block help you understand the tax impact of changes in your life - and what you can do to prepare for your return. Just answer the questions online to get tax advice based on your lifeand financial situation. Like-Kind Exchanges - Real Estate Tax Tips Properties are of like-kind, if they are of the same nature or character, even if they differ in grade or quality. Personal properties of a like class are like-kind properties. Understand Like-kind exchanges. |
This publication discusses rental income and expenses, and explains how to report them on your return. It also covers casualty losses on rental property and the passive activity limits and at-risk rules. This publication is designed for those who only rent out a few residential dwelling units. Explains the tax rules that apply when you sell your main home. Also includes worksheets to help you figure the adjusted basis of the home you sold, the gain (or loss) on the sale, and the amount of the gain that you can exclude. |