Proven tax strategies any homeowner can use to maximize the benefits of owning a hom
There are 65 million homeowners in the United States who could take advantage of the tax saving opportunities associated with their homes. J.K. Lassers Homeowners Tax Breaks 2006 reveals a treasure chest of tax breaks that any homeowner can use. These include such little-known breaks as getting tax-free rent from a short-term home rental, using the generous ＄250,000/＄500,000 home sale exclusion to shelter gain from the sale of other real estate, and pocketing tax-free mortgage proceeds when trading up to a more expensive home.
Gerald J. Robinson (New York, NY) is an attorney at Carb, Luria, Cook and Kufeld, LLP. He is the author of the treatise, Federal Income Taxation of Real Estatecurrently in its sixth editionwhich is considered the bible of real estate tax for practitioners. Mr. Robinson holds an LLM in taxation from New York University