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As top Duluth, Minnesota and Superior, WisconsinRealtors, we make it our business to be aware of every local home or property on the market. We even know of properties that will be available, but have yet to formally be placed on the market. We have direct access to the Duluth, Minnesota and Superior, Wisconsinarea MLS (Multiple Listings Service), and also to every other agents in the area and all of their listings. If you give us some idea of what you are looking for, we will personally review all our sources of real estate listing information and send you everything within your price range that matches your criteria. We can save you a great deal of time! This is a totally free service, and there is no obligation. It's part of our job to offer services like this to homebuyers. Fill out this form, and we will quickly get back to you! Please give us as many details as possible...
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Tax Considerations >Tax Deductions
Here is a question which is often asked about real estate sales: which home loan fees are deductible for income tax purposes? It is good to know the answer to this question before you sign on the dotted line. It may influence which loan you will choose. Loan fees for certain services are not itemized on your fee statement, but are grouped together into a single category.
The most obvious deductible fee is the loan fee paid to acquire a mortgage for a principal residence. The IRS recently ruled that the buyer could deduct the fee in the first year, even if the seller paid it! Other deductions include pro-rated property taxes and mortgage interest. On these items, the buyer may only deduct their share.
Most of the other closing costs are not deductible, but you may add them to your home's adjusted cost basis when calculating appreciation. Among these costs are appraisal, attorney, and inspection fees, as well as title, recording and notary fees. Fire insurance fees are neither deductible nor do they figure into the cost basis. If you are not sure which fees are deductible, consult a professional tax advisor.
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| Q |
Where is the world's largest dome?
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| A |
The Louisiana Superdome, with a diameter of 680 feet, is located in New Orleans, Louisiana. |
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