The amount paid in points is deductible by the buyer and not the seller. Instead, the seller reduces their profit from the ...

At a time when millions of would-be homebuyers are locked out of the market, a select group of homeowners is claiming a huge tax break—for second homes. Known as the mortgage interest deduction, this ...

But what is available this year are several homeowner tax breaks that don’t require a mortgage. Some are lesser-known ...

A tax deduction reduces your taxable income, which in turn lowers your tax bill. By subtracting certain expenses from your gross income, you pay taxes on a smaller amount. Most taxpayers choose the ...