Quote:
Originally Posted by Papa_lecki
Wait, I was told by TOTV experts that paying off the bond doesn’t impact your resale.
|
Just a piece of tax advice - the loan payment (principal and interest) should be added to the tax basis of the home. Though the bond payment is on your tax bill it is not considered real estate taxes which could be used if one itemizes. Increasing the tax basis would be relevant in the sale of rental properties or homestead properties with taxable gains
__________________
Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence. John Adams
|