There is an energy efficiency tax credit that's kicking into effect this year. So, for your 2006 taxes, keep all your receipts related to improving the energy efficiency of your house (insulation and the like). I think I read that there's a construction credit, too, for this year. Let me see if I can find it.
On 1/9/06, William Bowen <[EMAIL PROTECTED]> wrote: > > > so this is the first year we have owned a home. > > Disclaimer: I am not a tax lawyer, preparer, CPA, PA. I do not profess > to actually know what I am talking about, nor will I claim a clue when > it comes to taxes. > > YMMV > > Your mortgage company should provide you with a lovely form within the > next two weeks (must be postmarked before the last day of January). > > on it you will see several numbers. > > total amount of dollars paid (try not to vomit). > total amount of interest paid, this will probably cause dry heaves (if > you horked on the first number) > total amount of principle paid (this will probably make you cry) > > now, the second number, the interest you paid, will fit nicely in your > Schedule A (Itemized Deductions) in your form 1040. > > of course it means you also have to itemize your deductions (all of > them, you can't really pick and choose) > > The other stuff I am not so sure about, but I don't think you can > claim repairs or improvements as deductions. > > I recommend TurboTax online (www.turbotax.com) if you haven't got a > lot of deductions. I've been using it for several years now, and it is > really cool (to the tune of several $K!!) > > ....or perhaps a trip to your local H&R Block-type establishment would > be in order. > > > -- > will > > > "If my life weren't funny, it would just be true; > and that would just be unacceptable." > - Carrie Fisher > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:5:191156 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
