gain: Keep Those Home Improvement Receipts!
- 05/21/07 11:13 AM
There has been some bad advice going around out there that you don't need to keep your receipts for home improvements. True you do not have to have them for tax purposes - But keeping them may be to your advantage. The current exclusion from Federal income tax for a gain on the sale of a home is $250,000 if you are single, and $500,000 if are married and filing a joint return. For instance, suppose you paid $88,500 for a little 2 bedroom home in West Linn on a 100' x 100' lot in the early 90's. In todays market that home … (0 comments)
There has been some bad advice going around out there that you don't need to keep your receipts for home improvements. True you do not have to have them for tax purposes -
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