#home-ownership
Track home ownership costs, mortgage, and property expenses
Peer-to-peer garage and driveway storage income is usually reported on Schedule E rather than Schedule C, is taxable even without a 1099-K, and requires tracking gross bookings, platform fees (commonly 4.9% + $0.30 per transaction), and prorated home costs separately from personal expenses.
Florida HB 803, effective July 1, 2026, exempts single-family residential work under $7,500 from building permits — but only for cosmetic categories, only with a filed written request, and never in flood zones or for electrical, plumbing, structural, mechanical, or gas work.
A Texas federal court vacated FinCEN's Residential Real Estate Rule on March 19, 2026, eighteen days after it took effect, ending the mandatory reporting requirement for all-cash LLC and trust property purchases while FinCEN appeals to the Fifth Circuit.
How California's Proposition 19 replaced Section 63.1 for parent-child transfers after February 16, 2021 — the family home and farm rules, the one-year occupancy requirement, the BOE-19-P and BOE-266 filings, the $1,044,586 value cap floor, and the step-up-basis trade-off that determines whether to gift during life or transfer at death.
A practical guide for HOA boards, treasurers, and small-firm CPAs on the Section 528 election, the four Form 1120-H eligibility tests, the 30% flat rate trade-off versus Form 1120, and why every association should record an annual Revenue Ruling 70-604 vote.
Section 25C's 30% federal credit for heat pumps, insulation, windows, and other home efficiency upgrades ends with the OBBBA sunset on December 31, 2025, making the 2025 return the last chance to claim up to $3,200 per household — provided you supply a valid 4-character QMID on Form 5695.
Form 1099-S reports the gross sale price of a home, not the net, which routinely triggers IRS CP2000 notices for sellers whose gain is fully excluded under Section 121. This guide explains the Rev. Proc. 2007-12 certification that lets qualifying principal-residence sales bypass the form, the $250,000/$500,000 thresholds, the nonqualified use trap added in 2008, and how to defensibly report when the 1099-S cannot be skipped.
OBBBA raised the SALT deduction cap to $40,400 for 2026, but a 30-cent-per-dollar MAGI phase-down between $505,000 and $606,333 creates a roughly 45% effective marginal rate — the "SALT torpedo." Here is how to decide whether to re-itemize.
Section 163(h) decides whether your largest Schedule A line is a $14,000 deduction or an $8,500 one. Here is how the permanent $750,000 TCJA cap, the grandfathered $1 million pre-2018 loans, the HELOC "substantial improvement" rule, and the 2026 return of the mortgage insurance premium deduction actually work — with worked examples and the records you need on audit.
How Section 165(i) lets taxpayers in federally declared disaster areas deduct casualty losses on the prior year's return via Form 4684 and Form 1040-X — election mechanics, the six-month deadline, safe-harbor valuations, and when the prior-year election actually beats waiting.
A side-by-side comparison of the simplified $5-per-square-foot method and Form 8829's actual expense method for the 2026 home office deduction, with worked examples, depreciation recapture math, carryover rules, and a decision framework for self-employed filers.
How Section 121 lets U.S. homeowners exclude up to $250,000 ($500,000 for joint filers) of capital gains on a primary home sale — covering the 24-month ownership and use tests, the two-year frequency rule, partial exclusions, depreciation recapture, and the nonqualified-use allocation.
