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#2
03-21-2005, 04:45 AM
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 Re: Can I deduct house hunting costs on my federal income tax for Douglas Rafeld wrote: - quote - > In 2004, I paid for the inspection and title search for a
No. Any such costs would be added to the basis, but as you> contract I eventually had to break. Can I deduct those > expenses on my federal incomce tax return and if so what > form and what line do I enter this deduction on?? didn't purchase anything, there's nothing to add to. You're SOL. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
03-21-2005, 04:07 AM
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| Re: Can I deduct house hunting costs on my federal income tax for "Douglas Rafeld" <maverickma[at]att.net> wrote: - quote - > In 2004, I paid for the inspection and title search for a
No.> contract I eventually had to break. Can I deduct those > expenses on my federal incomce tax return and if so what > form and what line do I enter this deduction on?? -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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03-18-2005, 11:26 AM
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| Re: Can I deduct house hunting costs on my federal income tax for a broken contract?? Douglas Rafeld wrote: - quote - > In 2004, I paid for the inspection and title search for a
Add these expenses to the cost basis of the house you> contract I eventually had to break. Can I deduct those > expenses on my federal incomce tax return and if so what > form and what line do I enter this deduction on?? eventually purchased. There is no current year deduction. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
03-17-2005, 06:30 AM
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| Can I deduct house hunting costs on my federal income tax for a broken contract?? In 2004, I paid for the inspection and title search for a contract I eventually had to break. Can I deduct those expenses on my federal incomce tax return and if so what form and what line do I enter this deduction on?? Thanks! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| broken, contract, costs, deduct, federal, house, hunting, income, tax |
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