Individual tax tips archive template. Computing your cost basis is the first step in calculating gain or loss from the sale of your personal residence. If so, you can fully deduct points paid on your home mortgage loan.
Tax law regarding capital gains is less onerous than it once was.
It has been eliminated and you no longer have to hold property for more than 18 months to be eligible for the lowest capital gains rates. More Deductions and credits Tax deductions available for job-hunting high school graduates. More How to reclaim an overpayment of Social Security taxes. You're running out of time to claim it. More Educational tax credits offer benefits and limitations.