DO YOU KNOW

POTENTIAL TAX SAVINGS

• You can deduct taxes on one, two, or three properties
• Keep up to $500,000 tax free on sale of your home
• The three income tax categories for real estate
• You can deduct loan points on purchase of your home
• California requires escrow to withhold 3 1/3% of sales price – unless –
• Deduct interest on a second home or home equity loan up to $100,000
• Seller financing defers taxes, creates income, homes sell faster at a higher price
• Tenant in common may act like a 1031 to save you capital gains tax

Robert Mallison is licensed by the U.S. Department of Treasury to represent taxpayers in front of the IRS. His policy is to counsel clients in potential tax savings and investment opportunities and refer clients to their attorney tax specialist.