REAL ESTATE FINANCES

The IRS and Real Estate

• Income Tax Form 709
  Gift Tax Return Will someone provide gift money to help you purchase a home? The links above will answer all your questions on how to report this to the IRS.
  
• Schedule D (Form 1040)
  Capital Gains and Losses
  
• Form 8857
  Request for Innocent Spouse Relief Are you being unduly burdened by debts that you didn't know about that were incurred by a former spouse? Then you might want to review this form and see if any relief is available for you.
  
• Publication 521
  Moving Expenses
  
• Publication 523
  Selling Your Home " ... realty fees can be so expensive ..." But are they tax-deductible? Visit this publication to find out what expenses you can claim in the sale of your home.
  
• Publication 527
  Residential Rental Property (including rental of vacation homes)
  
• Publication 530
  Tax Information for First-Time Homeowners Did you just buy a home? Then your agent should have provided you with this handy publication. It explains the ins and outs of tracking the finances of your newest investment.
  
• Publication 544
  Sales and Other Dispositions of Assets
  
• Publication 547
  Casualties, Disasters, and Thefts (Business and Nonbusiness)
  
• Publication 551
  Basis of Assets Just how do you deduct the costs of modernizing your kitchen? Repairing a leaky roof? Adding a deck? You'll find your answers here!
  
• Publication 587
  Business Use of Your Home
  
• Publication 936
  Home Mortgage Interest Deduction
  
• Form 1040X
  Amended U.S. Individual Income Tax Return
  
• Form 8822
  Change of Address
  
• Form 8828
  Recapture of Federal Mortgage Subsidy