If you need assistance, please call 507-259-4926

Gene Dumstorff
507-261-9709

Taxes | Gwaltney Group | RE|MAX Results Blog

Tuesday, March 7, 2017   /   by Brian Ness

Are You Getting the Home Tax Deductions You're Entitled To?

This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

Owning a home can pay off at tax time.
Take advantage of these home ownership-related tax deductions and strategies to lower your tax bill:
Mortgage Interest Deduction
One of the neatest deductions itemizing homeowners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home -- and your home can be a house, trailer, or boat, as long as you can sleep in it, cook in it, and it has a toilet.
Interest you pay on a mortgage of up to $1 million -- or $500,000 if you’re married filing separately -- is deductible when you use the loan to buy, build, or improve your home.
If you take on another ...

Read More


  home tax credits, tax deductions, taxes

Gwaltney Group of RE/MAX Results
Robin Gwaltney
4123 26th St. NW
Rochester, MN 55901
507-259-4926

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Gwaltney Group of RE/MAX Results are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2019Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated March 19, 2019
;