In our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions related to amended returns, property and deductions.

When you sell your home, you may owe capital gains tax on the profit from the sale. The IRS calculates this by subtracting ...

Whether you have renters in your home or another property, know that the money you make can affect your income tax return.

This may not always be the case if you’re running a professional rental business, in which factors like tax deductions and depreciation are always maximized in a way to pay the least taxes possible.

“The conditions to claim house rent allowance (HRA ... View Full Image (Graphics: Mint/Paras Jain) To claim a deduction on home loan interest under Section 24(b) of the Income Tax Act, salaried ...

But, property owners who rent out their properties 14 days or less per year don't have to include that income when they calculate their taxes ... the 1970s and which deductions should be allowed ...

Tax credits for homeowners don't require you to itemize. They directly reduce the amount of taxes you owe, and you can usually get those credits whether or not you itemize deducti ...

If you rent a house for two years and then buy ... you don't need to report the sale on your taxes at all. Medical expenses can be a major tax deduction, but only if they go over 7.5% of your ...

HOA fees can be deducted as an operating expense on Schedule E when you file your taxes. For rental properties, there are two scenarios in which you can claim an HOA deduction from your taxes.