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| Subject:
sale of house and building new one
Category: Miscellaneous Asked by: capoppy55-ga List Price: $35.00 |
Posted:
12 Apr 2006 19:02 PDT
Expires: 12 May 2006 19:02 PDT Question ID: 718374 |
My Mom just sold her home in CA - basis was about $250K, sold for $690. She (we) are building a new home in AZ, she purchased the lot for $235K and put another $350 in for the deposit on the mortgage (new house, when finished will have a cost basis of about $1M). My husband and I will be making the mortgage pmts, once they start. They haven't started yet because our builder has not yet begun to draw off of those funds. Is there a way for her (Mom) to deduct any of the costs associated so far with the new house? Thanks a bunch, Aja |
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| Subject:
Re: sale of house and building new one
From: et3ishak-ga on 27 Apr 2006 22:19 PDT |
http://www.thompsonsrealty.com/Tax_Info/page_1117861.html http://www.alllaw.com/articles/tax/article3.asp maybe this will help |
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