Home Remodeling Blog - Planning Ideas, Tips and Tricks

It’s tax season again. Do you know your homes tax basis?

Posted by: Cary Waddell in Basement, Bathroom, Bedroom, Building Equity, Closet, Fix and Flip, Garden, Gardening, Home Improvement, Investing, Kitchen, Kitchen Cabinets, Master Suite, Project Budget, Walk-in Closet, Yard 6 years, 5 months ago

Every year millions of people buy or sell homes in the US. It’s a rite of passage to purchase a home. Whether you are moving from an apartment, your parent’s basement or an existing home there is one important thing the tax man wants to know when you sell your home, what is the tax basis value of your home? Why should you care about this if you are buying a home? That’s easy, when it comes time to sell your home you can minimize the tax basis and pocket more of your own money.