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Westfield Home Sale Tax Deductions
The deadline to file your income taxes in 2018 is April 17th. Did you sell a home in 2017? You might be able to take advantage of certain Westfield home sale tax deductions when filing this year. If you haven't filed yet, it's not too late to discuss these with your tax attorney or accountant.
Westfield Home Sale Tax DeductionsMortgage Interest and Property Taxes Two of the Westfield home sale tax deductions you can take advantage of right now are mortgage interest and property taxes. Anything you paid for either one of these in 2017 can be deducted on your taxes. The new tax code caps mortgage interest at anything paid up for up to $750,000 in mortgage debt and $10,000 in property taxes. However, the old limits (interest paid on up to $1,000,000 in mortgage debt and unlimited for property taxes) still apply for 2017 tax filings. Did you prepay your 2018 property taxes last year? You could add this to the property tax deductions for 2017, but only if your property was assessed in 2017 as well. Otherwise, your 2018 property taxes fall under the new tax code rules.
Home Repair/ImprovementDid you make any repairs or improvements to your home before ... more

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