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  • "Buying" parents house...best strategy
    Replied February 13, 2017
    @Jason Munger  I have a ton of questions.  As a tax pro I see a couple ways this can go.  Each with their own pluses and minuses.  I would recommend employing a tax pro, the adv... See more
    Reply 13 replies
  • Taxes on Land Sold Overseas
    Replied February 13, 2017
    @Danny N.  The IRS taxes the sale of land in foreign countries in the same way it does for land sold in the US.  So in this case the sale of your property minus the basis equals... See more
    Reply 1 replies
  • $25k Passive Loss to Offset Ordinary Income
    Replied February 12, 2017
    Manson C.  If you were losing 25K each year you definitely are doing something wrong.  If you had more than $25k in losses you could carry it forward to a year that you can use ... See more
    Reply 14 replies

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Member Blog Is home mortgage interest that valuable of a tax deduction?

The value of the home mortgage interest deduction cannot be understood unless you understand the standard deduction and Schedule A of the 1040. Every person filing taxes is afforded a standard d...