Taxpayer asks: My wife and I live in a single-family home that we own jointly. We are retired, and our income is from social security.
Read MoreTag: home mortgage interest deduction
Ask The Taxgirl: Are Home Equity Loans Still Deductible?
Taxpayer asks: In September 2017 we refinanced our house to pay off crushing credit card debt we incurred during the recession and could not hope
Read MoreIRS Issues Guidance On Home Equity Loan Interest After Tax Reform
Taxpayers and tax professionals had questions about what the new tax law meant for homeowners with debt. Today, the Internal Revenue Service (IRS) finally issued guidance concerning deducting interest paid on home equity loans.
Read MoreWill Tax Reform Cause Housing Prices To Drop?
Republicans in the Senate have announced that they believe they have enough votes to move their latest version of the tax reform bill forward. The National Association of Realtors (NAR) is warning that the bill will cause housing prices to drop.
Read MoreTaxes From A To Z (2013): J Is For Junk Fees
J is for Junk Fees. If you’ve ever bought or sold a home, you’ve probably seen a laundry list of fees on your sale or
Read MoreTax Trivia: Home Mortgage Interest Deduction
We have a winner! See the correct answer in the comments. Our next tax trivia question for the giveaway is: According to the IRS, what
Read MoreThe Morning After: The Tax Deal Hangover
I’ll admit that I didn’t see yesterday’s tax deal coming. I was fairly certain that the drama would play out through this week. We still
Read MoreAsk The Taxgirl: Does Renting Mean I Can’t Itemize?
Taxpayer asks: Hello Taxgirl! I have a question! I was married last year, and this is the first time I will be filing a joint
Read MoreCaroline Rummel Just Won an A!
…or at least a nice letter to Professor Holcomb over at the University of Minnesota Law School. Caroline’s entry on “Why It’s Time to Take
Read MoreFix The Tax Code Friday: Mortgage Deduction
Bush’s tax plan has suggested severely limiting the mortgage deduction and eliminating deductions for interest on home-equity loans or mortgages for vacation homes. So today’s
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