LANA BORZOVA, Realtor®
ALWAYS ASK LANA FIRST
Lana Borzova

Real Estate Provisions in New “Fiscal Cliff” Bill


On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” The bill will be signed shortly by President Barack Obama. Below is a summary of real estate related provisions in the bill:

Real Estate Tax Extenders

Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014

Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012

Leasehold Improvements: 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012

Energy Efficiency Tax Credit: 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012


Please check my new RE/MAX website:


www.LanaBorzova.ReMaxAgent.com

                                                                                                                                                                                                             

   

 

 

 

 


Helpful Links:


State of Maryland
Maryland.gov


School Information
Montgomery County Public Schools

Frederick County Public Schools


Motor Vehicle Administration
MVA.Maryland.gov


Real Property Tax
Montgomery County


Utilities
Connect Utilities


Events, Montgomery County
visitmontgomery.com/events-calendar

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