Real estate gaffes vex 1st-time home buyers when preparing taxes - 2005-02-07
No one is perfect, especially when it comes to preparing a federal income-tax return.
With that in mind, here, according to the Internal Revenue Service, are some of the common errors first-time home buyers commit with their real estate and taxes:
Refinance points. The points you pay to refinance a mortgage are not deductible in full in the year you paid them. You must spread the amount throughout the life of the loan.
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