HOMEOWNER

INTEREST, TAXES, POINTS, PMI, BUYER/ENERGY CREDITS

MORTGAGE INTEREST PAID

  • Send all 1098 statements received from lenders.
  • IL State homeowners - provide PIN number - found on tax statement 

REAL ESTATE TAXES PAID

Lender pays your taxes, this will show up on your 1098 - If you pay your own taxes - provide total taxes paid for the applicable properties

  • Primary
  • Vacation
  • Second
  • Land
  • Rental - input under "RENTAL"

POINTS PAID - found on closing documents or Form 1098

Loan origination fee, loan discount paid at time of closing for a

  • New Loan
  • Points Paid Refinance
  • # of Years
  • Proceeds used for

RESIDENTIAL ENERGY CREDIT - FORM 5695 (QUALIFIED SOLAR SYTEMS)

  • Solar Electric System
  • Solar Water Heater
  • Insulation
  • Exterior Doors
  • Exterior Windows
  • H2O Heater
  • Furnace or A/C unit


Send Receipt for each item - or - Date & Cost to purchase & install

HOME SALE

Form 1099-S - provide purchase & selling documents - or contact me

Capital gain exclusion is $250K if single & $500K if married & filing a joint return.  To qualify...

  • Must have owned & occupied the primary home for at least 2 years out of the last 5 before you sell it.
  • Not had a previous capital gain home sale exclusion within 2 years from the sale of your home.


If you sold your home & had not lived in it for the required 2 years - partial exclusions are available. In these cases you would get a % of the 2 years - based on the time you did occupy the home.

  1. Change in place of employment - new job must be 50 miles away from old home.
  2. Medical health issues - must have a written letter from your doctor.
  3. Unforeseen circumstances - death, unemployment, natural disaster, multiple births.


Must report home sale even if gain is excludable - if you received FORM 1099-S (a loss) please provide it.

  • Purchase Date
  • Purchase Price
  • Selling Date
  • Selling Price
  • Purchase Closing Costs
  • Selling Closing Costs
  • Improvements