If you own a home, these are three of the most important homeowner tax deductions to understand: the mortgage interest deduction, the property tax deduction, and the home sale capital gains exclusion. Mortgage interest may be deductible if you itemize, but limits apply. Property taxes can also be deductible when you itemize, and the rules can cap how much you can claim. Finally, if you sell your primary residence, you may qualify for a capital gains exclusion if you meet the 2-out-of-5-year use

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Did you know the interest on a mortgage is tax deductible ? Did you know depreciation on the ownership of your home is also a tax deduction? Real estate is a phenomenal investment to not only save on taxes but also park your money in a tangible asset that can be used to create passive income via renting out also. Anytime you have any questions about buying or selling an apartment in New York let me know | TheTroyReport.Com | Facebook

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