Jack Potts Best West Realty Ltd. 700 Tranquille Rd. PO Box: # 70 Kamloops, BC, V2B 8R3
Office: 250-554-4511 Cell: 250-571-8838 Fax: 250-377-4173
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deductible home-buying costs |
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What home-buying costs are deductible?
Any points you or the seller pay to purchase your home loan are deductible for that year. Property taxes and interest are deductible every year.
But while other home-buying costs (closing costs in particular) are not immediately tax-deductible, they can be figured into the adjusted cost basis of your home when you go to sell (any significant home improvements also can be calculated into your basis). These fees would include title insurance, loan-application fee, credit report, appraisal fee, service fee, settlement or closing fees, bank attorney's fee, attorney's fee, document preparation fee and recording fees. Points paid when you refinance an existing mortgage must be deducted ratably over the life of the new loan.
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Kamloops News
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Kamloops News
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Local news for Kamloops, BC continually updated from thousands of sources on the web. |
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Canada's Pendrel finishes fourth at mountain bike world cup event
World champion Catharine Pendrel is already looking ahead after what she called the worst performance of her year.Pendrel, from Kamloops, B.C., finished fourth Sunday in the fourth round of the mountain bike World Cup.Pendrel was one minute 12 seconds behind winner Gunn-Rita Dahle Flesjaa of Norway.
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Sadok jumps for Ukrainian culture
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