{"id":934,"date":"2013-01-29T16:01:10","date_gmt":"2013-01-29T21:01:10","guid":{"rendered":"http:\/\/www.orangesand.com\/?p=934"},"modified":"2013-01-29T16:01:10","modified_gmt":"2013-01-29T21:01:10","slug":"real-estate-provisions-in-fiscal-cliff-bill","status":"publish","type":"post","link":"http:\/\/www.thebains.com\/blog\/2013\/01\/29\/real-estate-provisions-in-fiscal-cliff-bill\/","title":{"rendered":"REAL ESTATE PROVISIONS IN &#8220;FISCAL CLIFF&#8221; BILL &#8230;&#8230;&#8230;&#8230;&#8230;"},"content":{"rendered":"<p>(1)\u00a0 mortgage cancellation relief is extended for another year.\u00a0\u00a0 Households who have\u00a0 mortgage forgiveness by a lender in 2013 will not have to pay tax on the amount forgiven.\u00a0 (2)\u00a0 mortgage insurance premiums remain deductible.\u00a0 Tax filers making less thatn $110,000 who pay mortgage insurance or PMI can deduct the cost of their premiums in their 2012 &amp; 2013 returns.\u00a0 (3)\u00a0 15 year straight-line cost recovery on leasehold improvements is extended.\u00a0 For qualified leasehold improvements on commercial properties thru 2013 &amp; includes 2012.\u00a0 (4)\u00a0 energy efficiency tax credit, up to $500, for home owners who make energy efficiency improvements to an exisiting home for 2012 &amp; 2013.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAPITAL GAINS RATE STAYS AT 15% FOR A TOP INDIVIDUAL RATE OF $400,000.\u00a0 Also the 1st $5,000,000in individual estates &amp; $10 million for family estates are now exempted from the estate tax.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(1)\u00a0 mortgage cancellation relief is extended for another year.\u00a0\u00a0 Households who have\u00a0 mortgage forgiveness by a lender in 2013 will not have to pay tax on the amount forgiven.\u00a0 (2)\u00a0 mortgage insurance premiums remain deductible.\u00a0 Tax filers making less thatn $110,000 who pay mortgage insurance or PMI can deduct the cost of their premiums in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/934"}],"collection":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/comments?post=934"}],"version-history":[{"count":0,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/934\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/media?parent=934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/categories?post=934"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/tags?post=934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}