Tax benefit for couples owning separate homes

Mortgage interest deduction available per residence, not per taxpayer

By Inman News Feed
Add Comment Add Comment | Comments: 0 | Posted Apr. 4, 2012

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Second, they must not have used this same exclusion in the two-year period prior to the sale. So, the only limit on the number of times a taxpayer can claim this exclusion is once in any two-year period.

Next week: The biggest deduction many homeowners take is often too much.

Tom Kelly's new e-book, "Bargains Beyond the Border: Get Past the Blood and Drugs: Mexico's Lower Cost of Living Can Avert a Tearful Retirement," is available online at Apple's iBookstore, Amazon.com, Sony's Reader Store, Barnes & Noble, Kobo, Diesel eBook Store, and Google Editions. 

                                         

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