Other - Taxes

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What percentage of real estate taxes should be deducted on Schedule A?

Posted by admin on 4 Dec 2008 5:15 am. Filed under Other - Taxes.
real estate
John U


“A vacation home is rented out for 10 days during the year and used personally by the owner for 20 days during the year. What percentage of real estate taxes should be

deducted on Schedule A?”

Wouldn’t it just be 100%?

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What is the best way to learn about tax foreclosure auctions?

Posted by admin on 21 Jul 2008 2:54 am. Filed under Other - Taxes.
foreclosure
Eric B asked:


I see all these things on TV but I want to LEARN all about the tax foreclosure industry before I do anything dumb. If you have had success with anything related to this, please let me know how you started learning about it.

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What does foreclosure mean for my taxes?

Posted by admin on 3 Jun 2008 11:31 am. Filed under Other - Taxes.
foreclosure
blavelin asked:


A property that I am a co-signer on is going into foreclosure. In a question I asked previously regarding this matter, someone pointed out that I will be sent a 1099-c form. What exactly does this mean? If the house is sold at auction will I owe taxes on the amount the house sells for or the amount that was owed or, if the house does not sell for enough, will I owe taxes on the amount not paid?

If we can sell the house before the foreclosure is complete, how does that impact the situation? I’m so confused.

And please, no posts about your tax or loan company. I will report it as abuse.

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