How Many Ways Does The Tax Code Incentivize Home Ownership

Home Forums Money & Finance How Many Ways Does The Tax Code Incentivize Home Ownership

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
  • #596683

    Here are 3 I can think of. Feel free to add more.

    A. Exclusion of Capital Gains when you sell. When you sell your home, you don’t have to take capital gains up to 250k, and 500k for couples.

    Basically, tax free investment.

    B. Deduction of interest paid. When you pay the interest on the loan, you deduct that from taxable income.

    Basically, your interest is subsidized by your tax rate. (If your tax rate is 35%, then the govt is paying 35% of your interest)

    C. No taxation of imputed income. You don’t have to pay tax on the “rental income” you get by living in it. This is a real gain for you.(Imagine two people, both own houses for investment purposes, one rents it out, and one lives in it. The guy who rents it out has to pay tax on all the money he gets from renting it, and doesn’t deduct the amount he pays to live wherever he lives. The guy who lives in it doesn’t pay tax on the value he is getting from his property by living in it.)

    Thanks for unblocking me. 80 or whoever. You can’t send me an email because you’re not using email you say.

    am yisrael chai

    Welcome back, pba! Nice to “see” you again!


    welcome back!


    Is it true that this past year was the last to get the earned income credit of $400 ?


    i have no idea about tax codes, but what’s happening with popa?

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.