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Explain the home mortgage deduction . .

The mortgage interest deduction entitles you to completely deduct the interest on your Helena home loan for the year in which you paid it. Mortgage interest is not a dollar-for-dollar tax cut; it reduces taxable income. You must itemize deductions in order to do this, which means your total deductions must exceed the IRS's standard deduction.
 

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Jack Thomas
Montana Legacy Real Estate
2013 Cromwell Dixon Lane Suite C
Helena, MT, 59601
Office: 406-431-0599
Cell: 406-431-0599
Fax: 800-496-5705
hydro@bresnan.net
www.jackthomasrealestate.com
Lic. #: 15573
who gets a sold homes furnishings? PDF Print E-mail

Who gets the furnishings when a home is sold?

It depends. Fixtures, any kind of personal property that is permanently attached to a house (such as drapery rods, built-in bookcases, tacked-down carpeting or a furnace) automatically stay with the house unless specified otherwise in the sales contract. But anything that is not nailed down is negotiable. This most often involves appliances that are not built in (washer, dryer, refrigerator, for example), although some sellers will be interested in negotiating for other items, such as a piano.

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