The IRS and Real Estate

IRS Information effecting Real Estate
The IRS actually has some pretty good information on their web site covering most aspects of real estate. I have picked the five tax publications that pertain the most to my clients. I can't give you tax advice but you will find answers to a lot of your tax questions.

If you need a CPA recommendation or if you have any general questions you can reach me at 708-494-2378 or email me.

Selling Your Home This explains the tax rules that apply when you sell your main home.

Sale of Residence - Real Estate Tax Tips Good explanations of the rules to claim the exclusion from capital gains, and what you must do to meet the ownership and use tests.

Tax Information for First-Time HomeOwners Explains deductions and what records to keep.

Moving Expenses This publication contains a good explanation about what can be deducted when you move and the rules that apply.

Residential Rental Property This publication includes information about the tax treatment of investment property and vacation homes.