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Hi! We bought a house a year ago. We may move to a new house (for a better school district). Can we sell our house before 2-years and not be taxed? We we’re told that we may get dinged for selling before 2 years. Thank you in advance! Reply Marci August 18, 2016 12:06 am We sold our house in MN in August 2016.

Buying Your First Home – TurboTax Tax Tips & Videos – Buying your first home is a huge step, For tax year prior to 2018, you can deduct interest on up to $1 million of debt used to acquire or improve your home.. lived in it for two of the five years leading up to the sale and have not used the exclusion for another home in the last two years.

Me and girlfriend bought house together in both names when. –  · Me and girlfriend bought house together in both names when we file taxes next year who should claim it or how does it – Answered by a verified Tax Professional

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Tax Implications of Buying or Selling a House | H&R Block – Whether you are buying or selling a house, the process can be quite stressful, especially when thinking about potential tax implications. Let’s look at the documents you need to save and the tax issues you will need to consider. Buying a House. The new Closing Disclosure Form is one of the most important documents in the home-buying process.

tax deductible home Expenses – E-file Your Income Tax Return. – For instance, any home improvement costs can add up over the years, so it is a good idea to keep records for each year in case you receive an IRS notice requesting more information about your tax returns. More Information on Tax Deductible Home Expenses. Read about the home mortgage interest tax deduction.

I bought a house last year. What type of return should I. – I bought a house last year. What type of return should I expect from taxes this season?. mortgage interest and property taxes plus any other itemized deductions exceed your standard deduction amount then you can itemize your deductions and save a few tax dollars. The savings will depend upon.

Common Tax Mistakes First-Time Buyers and Home Office Workers. – In many cases, you can deduct in full the points you paid your lender to secure your mortgage for the year you bought your home, if you itemize. However, if you pay points in connection with a refinance, you must deduct the points over the life of your new loan.