New Homeowner Tax Deductions

Real Estate Broker/Owner with Riede Real Estate, Lic. 01310792

Homeowner Tax DeductionsHey, congratulations on buying a home or condo this past year.  

Do you know what is deductible on your taxes if you are a new homeowner? There were a lot of new home buyers this past year who bought homes in the Sacramento and surrounding areas that may not be aware of some of the homeowner deductions that you can take on you taxes in April.

As a Realtor in the Sacramento and surrounding areas, I send all my new homeowners a copy of their HUD1 Settlement Statements which when given to their tax accountant will help to insure that my clients receive all of the possible deductions on their new home or condo purchase.

To read the rest of this article simply click Sacramento New Homeowner Tax Tip


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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Gena great work in keeping your readers informed about the important tax deductions when owning a home.

Jan 06, 2009 12:33 PM #1
Audrey June-Forshey
RE/MAX Realty Services - Darnestown, MD
GRI, Gaithersburg, MD

Gena, I do this every year as well.  Just sent the letter and HUD-1s out today.  I think it is so important that we are truly real estate consultants that our clients continue to turn to for information like this.  Great post as usual.

Jan 06, 2009 12:38 PM #2
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Gena,

Great info. And you are so right about ..."Although a lender can technically do this, you wouldn't be allowed to deduct the points."  I've found that many are not familiar with this issue.

Jan 06, 2009 02:02 PM #3
Sharon Paxson
Arbor Real Estate - Newport Beach, CA
Newport Beach Real Estate - Arbor Real Estate

Gena - great information to be shared with your readers. This shows how knowledgable you are and I am sure your clients appreciate it. Great job!

Jan 07, 2009 01:40 AM #4
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Bill, just finished up sending each of them their HUD1 Statements along with a gift certificate...seems they are all very happy in their new homes.

Audrey, thank you. Sounds like we are two peas in a pod!

Lynda, I'm afraid you're probably right. Just got finished sending all of my 2008 homebuyers their HUD 1's for their taxes and now, I can start running my calculator for my own taxes...maybe later!!!

Sharon, thank you. I know they will appreciate it when they take it to their tax accountants and don't have to sift through and find their own paperwork.  Taxes are never fun but deductions are!

Jan 07, 2009 03:04 PM #5
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Gena Riede

Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
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