Monday, March 19, 2007

Tax Myths about Homeownership

1. My mortgage interest will reduce my tax bill.

2. All costs related to my home are deductible.

3. I must use money from my home sale to buy another residence.

4. Putting my child on my home's title is a smart tax move.

5. If I take a capital loss when I sell my home, I can write it off.

Read the entire story and learn more at realestate.msn.com/Buying/Article_bankrate.aspx?cp-documentid=687267>1=9226

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