What The Tax Bill Means For Homeowners

What The Tax Bill Means For Homeowners

Image title

Friday Republicans unveiled the final version of their tax bill. Having reconciled their versions of tax legislation here's what's in the final legislation lawmakers will be voting on next week.

Homeowners will be able to deduct interest on the first $750,000 of mortgage debt on a first or second loan on a newly purchased home. It will not affect current homeowners.

Homeowners must itemize their taxes if they want to claim mortgage interest deduction and it eliminates the deduction for interest on home equity loans.

It allows individuals to deduct up to $10,000 in state and local taxes and property taxes.

Taxpayers will be able to exclude up to $500,000 from capital gains when they sell their primary residence as long as they've lived there for two of the past five years.

Source: http://money.cnn.com/2017/12/17/real_estate/tax-bill-mortgage-property-tax-deductions/index.html?section=money_pf

Kurt Galitski Headshot
Phone: 714-957-6677
Dated: December 19th 2017
Views: 93
About Kurt: After 15 years of founding and running a successful boutique real estate office in Costa Mesa as a l...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Single Family Rent Prices Continue To Rise In 2018 - We’ve talked about it before and
Why We Are Numero Uno - "What's it like to be blue?"
Get A Greener Lawn - Spring is here and, while we are
Pruning 101 When How And Why Even Bother - While there is some charm to a

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

The Kurt Real Estate Group - Kurt Galitski
2973 Harbor Blvd. #532
Costa Mesa, CA

Other Locations