Discussion:Real Estate Taxes included in basis in computing Gain or Loss?
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| Revision as of 15:07, 13 August 2006 Tdoyle (Talk | contribs) (Talk:Type your Topic Title here moved to Discussion:Real Estate Taxes included in basis in computing Gain or Loss?) ← Previous diff |
Revision as of 15:30, 13 August 2006 Scot1 (Talk | contribs) (General tax bene) Next diff → |
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| {{ForumNewPost|UserID=Kendaniel|Date=31 July 2006|Text=Real Estate Taxes are deductable as an itemized deduction for individuals if they itemized. If a person has not itemized over the years, is it prohibited and/or permissable in the code and the regs to include them in basis. I have been believing for a lot of years that they can be. Can anyone tell me where I got this idea, because I cannot seem to find any support at this time.}} | {{ForumNewPost|UserID=Kendaniel|Date=31 July 2006|Text=Real Estate Taxes are deductable as an itemized deduction for individuals if they itemized. If a person has not itemized over the years, is it prohibited and/or permissable in the code and the regs to include them in basis. I have been believing for a lot of years that they can be. Can anyone tell me where I got this idea, because I cannot seem to find any support at this time.}} | ||
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| + | {{ForumReplyPost|UserID=Scot1|Date=13 August 2006|Text=General tax benefit rule allows for an addition to basis for items that are normally deductible. If the taxpayer was unable to itemize his deductions and therefore not get any tax benefit of the deduction, then the un-deducted real estate taxes paid over the years can be added to his basis.}} | ||
Revision as of 15:30, 13 August 2006
Discussion Forum Index --> Tax Questions --> Real Estate Taxes included in basis in computing Gain or Loss?
| 31 July 2006 | |
| Real Estate Taxes are deductable as an itemized deduction for individuals if they itemized. If a person has not itemized over the years, is it prohibited and/or permissable in the code and the regs to include them in basis. I have been believing for a lot of years that they can be. Can anyone tell me where I got this idea, because I cannot seem to find any support at this time. | |
| 13 August 2006 | |
| General tax benefit rule allows for an addition to basis for items that are normally deductible. If the taxpayer was unable to itemize his deductions and therefore not get any tax benefit of the deduction, then the un-deducted real estate taxes paid over the years can be added to his basis. | |
