Shreveport Real Estate - Patty Spinney - Coldwell Banker J Wesley Dowling

Once you've sold your home, make sure to keep your papers in order and know your rights as a homeseller.

Tax Breaks
Of course, one of the bestparts about buying a home is the tax break you receive from the government.Contact the Internal Revenue Service directly at 1-800-TAX-FORM and ask for thefollowing free publications, which are designed to assist you in the sale ofyour home:

521 "Moving Expenses"
523 "Selling Your Home"
527 "Residential Rental Property"
534 "Depreciation"
541 "Tax Information on Partnerships"
551 "Basis of Assets"
555 "Federal Tax Information on Community Property"
561 "Determining the Value of Donated Property"
590 "Individual Retirement Arrangements"
908 "Bankruptcy and Other Debt Cancellation"
936 "Home Mortgage Interest Deduction"

Make a File
File all closing andsettlement papers, including warranty deed, HUD-1 settlement statement, titlereport and your original Buy/Sell agreement. Also be sure to include receiptsfor any home improvements you made while you owned the house, in the event thatyou have to pay capital tax gains.

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