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sachin1sharma

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sachin1sharma's Questions (3)

sachin1sharma's Answers (3)

Being a home buyer, what all closing costs you can deduct from your yearly taxes besides mortgage interest?

Asked Wed Mar 12 2008, 07:44 by sachin1sharma - 08540 - Home Buying - 6 answers
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Montogomery Woods with Princeton address , NJ

Asked Thu Nov 15 2007, 08:47 by sachin1sharma - Princeton - Home Buying - 8 answers
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1 br condo or studio as investment property. Mercer County, Princeton

Asked Thu Oct 18 2007, 11:44 by sachin1sharma - Princeton - Home Buying - 2 answers
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How is Princeton Landing? The TH there seems to be expensive but they look good on paper. Any experiences?

Asked Tue May 27 2008, 11:34 by Atul - 08540 - Market Conditions - 6 answers

sachin1sharma answered:

Looks like you're concerned more about every single penny even before you're planning to buy. Nothing comes for free in this country and you pay for what you get, so you cannot negate high HOA, taxes and other costs related to a home. Do yourself a favor. Rent!! - Tue Jul 8 2008, 21:03

Being a home buyer, what all closing costs you can deduct from your yearly taxes besides mortgage interest?

Asked Wed Mar 12 2008, 07:44 by sachin1sharma - 08540 - Home Buying - 6 answers

sachin1sharma answered:

Well, Thank you all for your inputs. I did some research on what you can and what you can't deduct off the closing cost from tax savings perspective.

There are only 2 items that can deduct off closing costs.

- Prepaid Mortgage Interest
- State Taxes and any points you've paid upfront at the time of closing, however all other costs like recording fees, title insurance, flood certification, appraisal, title search can be added to the basis of your taxes which would help in estimating your total profit or loss when you plan to sell the house.

Check IRS publication 530 for more details.

Thank you. - Thu Mar 13 2008, 10:43

Montogomery Woods with Princeton address , NJ

Asked Thu Nov 15 2007, 08:47 by sachin1sharma - Princeton - Home Buying - 8 answers

sachin1sharma answered:

Bridgette,

Why I was asking specifically for Montogomery township is
1. It's in close proximity of princeton but the prices are not as high as in princeton township.
2. I was doing some research on the 5 year correction of house prices with decline in 5 years which will be mainly for central and north NJ , so therefore I was thinking to buy something that would yield some return rather getting depreciate over a period of time.

How do you rate Montogomery township as far as appreciation is concerned ?

Thanks - Thu Nov 15 2007, 09:04

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sachin1sharma

Being a home buyer, what all closing costs you can deduct from your yearly taxes besides mortgage interest?

Montogomery Woods with Princeton address , NJ

1 br condo or studio as investment property. Mercer County, Princeton

How is Princeton Landing? The TH there seems to be expensive but they look good on paper. Any experiences?

Being a home buyer, what all closing costs you can deduct from your yearly taxes besides mortgage interest?

Montogomery Woods with Princeton address , NJ

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