For home buyers, sellers and owners, lots of great tax savings are available.
Don’t forget to give a copy of your closing statement to your tax advisor. Many changes to buyers are interest expenses, and some of the seller’s expenses can be deducted from your basis in the sold property. If as a seller you paid closing costs for the buyer, you may have additional deductions. Talk to your tax professional for advice about your particular situation.
Best wishes for a great 2010!