tax deductions for homeowners: 9 Easy Mistakes Home Owners Make on Their Taxes - 02/07/13 06:43 AM
9 Easy Mistakes Home Owners Make on Their Taxes By: G. M. Filisko
Published: December 31, 2012
Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.
Sin #1: Deducting the wrong year for property taxes
You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2013 property taxes until 2014. But that’s irrelevant to the feds.
Enter on your federal forms whatever amount … (1 comments)