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AmyKay
"I'm Addicted"
Member since 10/02 1158 total posts
Wedding Date:
3/23/2003 12:00 AM
Wed. Location:
Watermill A+
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First time home buyer and tax deductions
This year will be the first time that myself and my husband will be able to deduct things at tax time.
What type of things can be deducted?
Interest on the mortgage
What about home improvements? Paint and stuff like that or major stuff like a new kitchen?
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Posted 7/24/04 12:47 PM 
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million04@aol.com
Board Fanatic
Member since 9/03 744 total posts
Wedding Date:
11/7/2004 3:00 PM
Wed. Location:
John Anthonys
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Re: First time home buyer and tax deductions
thats a great question,
I didnt even know that could be done !
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Posted 7/24/04 2:16 PM
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AmyKay
"I'm Addicted"
Member since 10/02 1158 total posts
Wedding Date:
3/23/2003 12:00 AM
Wed. Location:
Watermill A+
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Re: First time home buyer and tax deductions
I'm not sure if home improvements can be deducted.
I hope so
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Posted 7/24/04 2:51 PM
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MrsTC
My Casey Girl!
Member since 3/03 8128 total posts
Wedding Date:
9/27/2003 1:00 PM
Wed. Location:
The Coral House
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Re: First time home buyer and tax deductions
if home improvements can be deducted - i will have to drive to the landfill to dig up my receipts!  lol 
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Posted 7/24/04 3:03 PM
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DjPiLL
Mr. & Mrs. Pill
Member since 4/04 4198 total posts
Wedding Date:
5/28/2005 5:00 PM
Wed. Location:
Swan Club A+
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Re: First time home buyer and tax deductions
You might want to have an accountant do your taxes the first year of owning the house just so you don't screw it up. I have done all my taxes every year... even with the co-op. But when I get a house... i am probably gonna have the accountant do it one year to see how he works it.
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Posted 7/24/04 3:39 PM
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Valentinegirl
*~*~*~*~*~*~*~*
Member since 7/03 7281 total posts
Wedding Date:
2/14/2004 3:00 PM
Wed. Location:
Westbury Manor-A+
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Re: First time home buyer and tax deductions
I thought home repairs can be deducted but all my home improvements have been cash only so they don't charge tax. (Tree removal, and roof). Oh well.
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Posted 7/24/04 4:54 PM
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janwinterbridejoy
islanders season
Member since 12/03 6843 total posts
Wedding Date:
1/9/2004 2:30 PM
Wed. Location:
chateau briandA+
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Re: First time home buyer and tax deductions
some types of home improvement can be deducted i see people do it all the time.
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Posted 7/24/04 5:56 PM
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kimmie
Board Fanatic
Member since 7/03 828 total posts
Wedding Date:
9/25/2004 3:00 PM
Wed. Location:
Larkfield Manor-A++++
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Re: First time home buyer and tax deductions
So much can be deducted definately have an accountant do your taxes its so worth it. Congrats on the house where is it in E NPT? Looks familiar...
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Posted 7/25/04 12:48 PM
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AmyKay
"I'm Addicted"
Member since 10/02 1158 total posts
Wedding Date:
3/23/2003 12:00 AM
Wed. Location:
Watermill A+
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Re: First time home buyer and tax deductions
I'm just going to make a folder and keep every receipt we get.
An accountant will be doing are taxes, that's for sure!
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Posted 7/26/04 8:53 PM
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dgtlsunshine
Back to the Workforce :)
Member since 12/01 2840 total posts
Wedding Date:
7/7/2002 12:00 AM
Wed. Location:
Coral House
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Re: First time home buyer and tax deductions
My mom has always deducted home improvements
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Posted 7/26/04 11:01 PM
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