Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
Real Estate and Income Taxes A taxpayer sold their main home
Real Estate and Income TaxesA taxpayer sold their main home in 2019. 1099S has box 6 " buyer's part of real estate tax" amount is $550. Is this in addition to the real estate tax already reported in t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,549 satisfied customers
I just bought a new home last year im trying to figure out
i just bought a new home last year im trying to figure out what i can deduct from the HUD 1 that is not on the 1098 … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
I'm trying to do my taxes and I'm using my hud 1 where on
I'm trying to do my taxes and I'm using my hud 1 where on there does it show interest amount and property taxes… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,406 satisfied customers
I opened a mortgage in 2012, but didn't know enough about
I opened a mortgage in 2012, but didn't know enough about what I was doing and failed to include mortgage interest from HUD-1 and UFPMI from the same. IRS pub 530 says any PMI not allocated to the yea… read more
Barbara
Barbara
Enrolled Agent, Paralegal
16,631 satisfied customers
The Form 1098 Box 2 shows points for $4,267. Then the HUD
The Form 1098 Box 2 shows points for $4,267. Then the HUD 1 shows Adjusted Origination Fees on Line #803 a total amount of $5,555($1,641 points & $3,914 Origination charge). She is pay a $15,000 depos… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,504 satisfied customers
Yes, I'm filing my taxes on TurboTax and don't understand how
Yes, I'm filing my taxes on TurboTax and don't understand how to reconcile a 1098 from my lendor and a 1098-MA I received… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,549 satisfied customers
HUD line 803 Originations states 5000 the On 1098 the box
HUD line 803 Originations states 5000 the On 1098 the box for points paid states 4500 do I enter only the 4500 Do I combine them or do I enter the 500 ? Line 801 is 5800 Line 802 is empty Line 803 is … read more
Barbara
Barbara
Enrolled Agent, Paralegal
16,631 satisfied customers
purchased home in December. What lines from my HUD-1 are deductable?
purchased home in December. What lines from my HUD-1 are deductable? I did not receive a 1098… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
Interest paid by the developer on closing (buydown)....Are
Interest paid by the developer (seller) on closing (buydown)....Are those deductible by the puchaser (account holder)? Have a situation with my lender....is only reporting the portion of the interest … read more
ShawnA
ShawnA
CEO
Bachelor's Degree
2,450 satisfied customers
Is my Upfront MIP of $2054 on my Personal Residence tax deductable?
Is my Upfront MIP of $2054 on my Personal Residence tax deductable? I purchased the condo last year in August and the Upfront MIP is not on my 1098… read more
Dave CPA
Dave CPA
Master's Degree
740 satisfied customers
I refinanced a loan in July of 2009. I have two separate questions
I refinanced a loan in July of 2009. I have two separate questions regarding what deductions I can claim along with this refinance: 1) The Settlement Statement listed $3204 of points purchased. I did … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,136 satisfied customers
I bought a home in 2009. According to my 1098, I did not pay
I bought a home in 2009. According to my 1098, I did not pay any Property Tax during the year. On my HUD-1 statement though, Line 1004 lists $999.12 (4 mo.) paid at closing by the borrower (me). Is th… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,136 satisfied customers
I refinanced my home in 05/2009. I prepaid to the lender private
I refinanced my home in 05/2009. I prepaid to the lender private mortgage insurance. Is this tax deductible? It is listed on my settlement sheet, but not listed on the 1098 from Bank of America. Thank… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
Hi, We refinanced our FHA loan this year, and at closing
Hi, We refinanced our FHA loan this year, and at closing we were required to pay $3670.67 for - "Mortgage Insurance Premium for 0 months to HUD" on line 902 of our HUD-1. We were told it was a one tim… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
my loan was modified from a neg-am option ARM to a new fixed
my loan was modified from a neg-am option ARM to a new fixed rate without neg-am option in 2008. The neg-am was added to the principal amount for the new payment conditions. Can I take the neg-am inte… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
When buying and selling a home, what is tax deductible
I understand that points, are part of your closing costs are tax deductible. I just sold a home and purchased a new one. I''d like to know what, if any of those amounts are deductible.… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
how do i claim my downpayment for my first home this year
My wife and I bought our first home last year in April. I am using turbo tax but can't find a way to claim our downpayment came to 7000 in total costs. I will appreciate your assistance. Thanks Option… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Deductibility of company-paid mortgage buydown and points
I received a company-subsidized 3-2-1 buydown and 1 point deduction as part of a relocation package in 2004. On the "Summary Tax Report" sent to me by the relocation company it breaks them out as "May… read more
Jon Andrews
Jon Andrews
Certified Public Accountant (CPA)
3,118 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

5,914 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

673 satisfied customers

B.A., M.B.A, J.D.

Loren

Loren

Attorney

555 satisfied customers

Over 25 years practicing law

Robin D.

Robin D.

Senior Tax Advisor 4

21,808 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,666 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x