What Are Some Real Estate Tax Deductions? – What's Up Clarksville

What Are Some Real Estate Tax Deductions?

With the income tax season extended to July 15, 2020, you may be wondering about tax deductions, if you have not done your taxes yet.

So let’s start with what is NOT tax deductible.

  • Real Estate Commissions
  • Appraisals
  • Home Inspections
  • Attorney Fees
  • Title Fees
  • Transfer Taxes
  • Mortgage Refi Fees

The items that ARE tax deductible is:

  • Real Estate Taxes
  • Mortgage Interest
  • Home Equity Loan Interest
  • Loan Origination Fees
  • Loss From Disaster
  • Moving Expenses (only if you are an active member of the arm forces moving to your next duty station)
  • Home Office