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3 Key Tax Deductions Renewed for Homeowners

Thought this would be helpful at this time of year…

If you are anticipating a rough year when it comes to filing taxes, don’t turn those forms into new year’s confetti just yet. Several key provisions for homeowners have been retroactively renewed for 2014—and they might provide you with some much-needed tax relief.

If you did any of these three things in 2014, you still have reason to celebrate (OK, maybe not really celebrate, but celebrate as much as anyone can while doing taxes).

Short sale

In the third quarter of 2014, 8.1 million homes in the United States were seriously underwater, according to the real estate research firm RealtyTrac. If you were a homeowner who decided to short-sell your home last year, it’s not all bad news: Congress once again extended the Mortgage Forgiveness Debt Relief Act.

read more two more via http://www.realtor.com/advice/three-key-2014-tax-deductions-still/?MID=2015_02_MonthlyNewsletter_2010-13_sl1_ro&RID=10250946&cid=eml-2015-02-MonthlyNewsletter-sub2_renewed-blogs_buy

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