Can You Claim Home Repair Tax Deductions in 2025 and 2026?
Can You Claim Home Repair Tax Deductions in 2025 and 2026?
Feb 2, 2025
nationaltaxreports.com
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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New tax deduction for seniors age 65 and older for 2025 through 2028 If you or your spouse will be 65 or older by the end of the tax year, there may be a new temporary federal deduction worth up to 6,000 per eligible taxpayer. What the deduction is A temporary federal tax deduction available annually for eligible taxpayers age 65 and older Available for tax years 2025 through 2028 Designed to lower taxable income, which can reduce the amount of tax you owe depending on your bracket Who may quali
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