Financing in Las Vegas>Question Details

Waywardbelle, Renter in Las Vegas, NV

Which tax provision do home owners often overlook?

Asked by Waywardbelle, Las Vegas, NV Thu Mar 7, 2013

Help the community by answering this question:


AS: Because you receive a statement from the bank with details [such as] how much mortgage interest you paid over the year, and how much the bank pays on your behalf in real estate taxes, the number of mistakes has dropped.
But if you’re in a state where you pay the real estate taxes on your own — the bank doesn’t handle it for you — [people] make mistakes because sometimes real estate tax bills include other items besides pure real estate taxes. It could be trash collection fees; it could be snow removal fees that the state or county is assessing on the real estate tax bill. Since the items are included in the same bill, home owners sometimes deduct [those fees] regardless of whether the items are actually taxes.

David Cooper
1 vote Thank Flag Link Sat Mar 16, 2013
The points paid could easily omitted sometime. If you are uncertain, talk to a tax consultant.

Keller Williams Realty, the Market Place
0 votes Thank Flag Link Thu Mar 7, 2013
Consult a CPA.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
0 votes Thank Flag Link Thu Mar 7, 2013
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