Portland, Lake Oswego and Tigard/Tualatin real estate and homes for sale in Oregon, luxury homes, relocation - Linda Quinn & The Quintessential Team, REALTORS® Linda Quinn & The Quintessential Team REALTORS(r) for Portland, Lake Oswego and Tigard/Tualatin, Oregon real estate, luxury homes, relocation - NUMBER1EXPERTS™ Linda Quinn & The Quintessential Team NUMBER1EXPERTS(tm) for Portland, Lake Oswego and Tigard/Tualatin, Oregon real estate, luxury homes, relocation
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Linda Quinn & The Quintessential Team, REALTORŪ, real estate agents and broker for Portland, Lake Oswego and Tigard/Tualatin Oregon home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
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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Real Estate Trivia
Q 
Where is the world's largest stained glass window?

A 
The American Airlines terminal at the Kennedy International Airport in New York City has a stained-glass window that is 300 feet long and 23 feet high.
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Linda Quinn & The Quintessential Team, REALTORŪ, real estate agents and broker for Portland, Lake Oswego and Tigard/Tualatin Oregon home listings, property and land for sale - NUMBER1EXPERT(tm)

Linda Quinn
Keller Williams Realty

17700 S.W. Upper Boones Ferry Rd
Portland, OR 97224
Office: 503-635-3301
Cell: 503-706-9187
Fax: 503-635-3309
503-706-9187
Email: lindaquinn@NUMBER1EXPERT.com

Linda Quinn has successfully represented buyers and sellers in the Portland Metropolitan Area since l976. She has earned the designations of Graduate of the Real Estate Institute (GRI), Accredited Buyer's Representative (ABR) and Certified Residential Specialist (CRS).

Less than 5% of the Realtors nationwide qualify for these designations. Selling and closing over 1,300 homes in her career she is a Principle Broker and closes an average of one house every 4 days

Linda was recognized as one of the top 15 brokers at The Hasson Company in 2006. In July 2007 she moved her license over to Keller Williams Realty Portland Premier where she represents you with expertise, education and experience. She is in business to be an indispensable asset to her clients before, during and after closing.

CRSGRIABRSRESREALTORMLSEqual HousingRELO


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