(This is Part 8 of an eight-part series. Read Part 1, Part 2, Part 3, Part 4, Part 5, Part 6 and Part 7.) Have you ever forgotten to claim a real estate tax deduction? I did. Years ago, after I filed my income tax returns I remembered a mortgage interest deduction of about $4,500, which I totally overlooked. To claim my tax refund, I had to file IRS Form 1040X to amend my tax return. As a result, I then learned the IRS hates to part with tax dollars already collected. I had to provide details of my additional deduction. Purchase Bob Bruss reports online. Fortunately, that was easy because it was a mortgage interest deduction for a recently acquired rental property. I photocopied the lender's IRS Form 1098, mailed it to the IRS, and about a month later received my tax refund. Just so you never make a tax-deduction mistake like that, here are the "top 10" most often forgotten real estate tax deductions: 1. DEDUCT LOAN FEE "POINTS" PAID TO OBTAIN A "HOME-ACQUISITION MORTGAGE." If...
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