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Any interest referring to the amount before the year of acquisition/ construction of the house property shall be allowed as a. 2 lakhs is available for interest paid towards the loan taken for any property which is occupied by any person for his. This deduction is available over and above the deduction of rs.
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The irs considers home staging a part of advertising the home, and any fee that stage to move. In summary, the irs’s position is that staging costs are a legitimate selling expense for both primary and secondary homes and are therefore tax deductible. Now, there is a bit of a gray area, a home staging.
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The deduction also went up to $18,800 for the head of household (up $150 from 2020). In tax years 2018 until 2026, home equity loan interest is only deductible if you use the loan proceeds to buy, build, or substantially improve the home. Home equity can be taxed when you sell your property.
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