Manhattan Beach and Hermosa Beach real estate and homes for sale in California - Robert Freedman, REALTOR® Robert Freedman REALTOR(r) for Manhattan Beach and Hermosa Beach, California real estate - NUMBER1EXPERT™ Robert Freedman NUMBER1EXPERT(tm) for Manhattan Beach and Hermosa Beach, California real estate
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Robert Freedman, REALTORŪ, real estate agent and broker for Manhattan Beach and Hermosa Beach California home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Tax Considerations >Tax Deductions

Here is a question which is often asked about real estate sales: which home loan fees are deductible for income tax purposes? It is good to know the answer to this question before you sign on the dotted line. It may influence which loan you will choose. Loan fees for certain services are not itemized on your fee statement, but are grouped together into a single category.

The most obvious deductible fee is the loan fee paid to acquire a mortgage for a principal residence. The IRS recently ruled that the buyer could deduct the fee in the first year, even if the seller paid it! Other deductions include pro-rated property taxes and mortgage interest. On these items, the buyer may only deduct their share.

Most of the other closing costs are not deductible, but you may add them to your home's adjusted cost basis when calculating appreciation. Among these costs are appraisal, attorney, and inspection fees, as well as title, recording and notary fees. Fire insurance fees are neither deductible nor do they figure into the cost basis. If you are not sure which fees are deductible, consult a professional tax advisor.

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Real Estate Trivia
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What is the least affordable metropolitan housing market in the United States?

A 
California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation.
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Robert Freedman, REALTORŪ, real estate agent and broker for Manhattan Beach and Hermosa Beach California home listings, property and land for sale - NUMBER1EXPERT(tm)

Robert Freedman
RE/MAX Beach Cities Realty

1001 Manhattan Beach Bl
Manhattan Beach, CA. 90266
Direct Office: 310-303-3333 X122
Cell: 310-291-7779
Fax: 310-303-3335
Email: rob@letfreedmanring.com

After twenty-seven years selling real estate full time in the South Bay, Robert Freedman's reputation generally precedes him. He is known as a fair but aggressive protagonist for his client's objectives. Robert's background of architecture at Cornell University has served his clients well. He brings lots of creativity to the table, especially in visualizing remodeling possibilities and analyzing building projects. His negotiating skills are second to none. Contact him via e-mail today! Robert, or a successful member of the dynamic team at the Office of Robert Freedman will get back to you immediately.

Equal HousingGRIREALTOR


RE/MAX Beach Cities Realty real estate and homes for sale in Manhattan Beach and Hermosa Beach California

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