Tax Preparation after Buying or Selling a Home

March 3, 2022

Tax time is upon us–if you had a real estate transaction last year, be sure to consider the possible tax implications and gather the pertinent documentation.

Note: This article is for informational purposes only and is not intended as legal, tax, or legal advice. Please see an advisor for specific help.

Tax Considerations – Buying a Home


Important forms and documentation

  • Closing Disclosure Form or settlement statement
  • Other Mortgage documents
  • Form 1098 “Mortgage Interest Statements
  • Mortgage credit certificate
  • Property tax statement
  • IRA withdrawal documents (if you pulled from IRA or 401(K) for home purchase)


Other Considerations

  • home mortgage interest
  • points paid on a loan
  • real estate taxes
  • private mortgage insurance


Tax Considerations – Selling a Home


Important Forms & Documentation

  • 1099-S “Proceeds from a Real Estate Transaction
  • Home improvement receipts
  • Form 8829 for home office deduction
  • Insurance loss


Other Considerations

  • Survey fees
  • Recording fees
  • Owner’s title insurance
  • Abstract of title fees
  • Home improvement
    • additions: deck, garage, basement
    • addition of centrail air
    • sprinkler system
    • new roof or siding
  • Energy Credits
  • Insurance


Additional Resources

Documents You Should Save for Tax Time

IRS: Topic No. 701 Sale of Your Home

Can I Deduct My Mortgage-Related Expenses?

Tax prep 101: Four steps for real estate investors

What are the tax benefits of homeownership?

A Beginner’s Guide to Investment Property Income Tax Deductions

What Documents Will I Need for Taxes if I Bought a House Last Year?

Tax Implications of Buying or Selling a House

The Tax Return Documents Required for a Purchased House

Recent Instagram Posts

Life is too short for questionable sushi or DIY real estate deals. 🙅🏼‍♀️

When it comes to your home, you deserve a seamless experience from the first showing to the final signature. I’ve spent years navigating the West Linn and Portland markets so my clients don’t have to.

If you’re looking for a smooth move and zero “digestive” regrets, let’s chat. ✨

Experience matters. Especially here. 🌲
...

54 12

Feeling like you’re constantly playing catch-up? You’re not behind. You’re just one system away from extraordinary. 📈

At Robbins Realty Group, we don’t just believe in working harder. We believe in working smarter through aligned structure and proven systems. If you’re ready to stop the “ordinary” cycle and start scaling your business, let’s talk.

One decision can change everything. Call or DM me today! 📞✨
...

15 2

Confession: I’m still in the “messy middle.” 🙋🏼‍♀️

In the early days of RRG, I learned quickly that business growth is capped by personal growth. If you aren’t willing to stretch, learn, and face your limits, your business won’t either.

My mantra? Always be learning.

Whether you’re leading a household or a real estate empire, the question is the same: How are you evolving for the people who count on you?

What’s one thing you’ve learned recently that pushed you out of your comfort zone? Let’s chat in the comments! 👇
...

25 4

Anyone else craving those West Linn summer nights right about now? 👀

There is just something magic about this town when the sun stays out. I’m dreaming of evenings on the patio, sunset boat sessions on the Willamette, and that perfect, easy energy at the Sunday Market. From the lush greens of Mary S. Young to the historic charm of Willamette Main Street buzzing with life - I’m ready for the “Golden Hour” to last all day. ☀️✨

West Linn truly comes alive this time of year, and it’s exactly why so many people are looking to call this community home before the season hits. 🏡

Thinking of making a move this summer? Send me a DM, I’d love to help you find your perfect spot in the sun. 👇

Heather Robbins, @robbinsrealtygroup
West Linn Local & Principal Broker
Follow for local listings, market insights, and the very best of Oregon living.
...

13 2

I learned this one the hard way: your mindset is a direct reflection of what you consume. 🧠✨

As a broker and a leader, I’ve realized that my “output” is only as good as my “input.” If I’m fueling my day with mindless scrolling or negative noise, my energy and focus are the first things to pay the price.

A few years ago, I started “editing my inputs.” I traded the comparison trap for intentionality and started filling my feed, and my life, with ideas that actually lift me higher. It didn’t happen overnight, but the shift was huge. I felt lighter, more motivated, and more like me.

At the end of the day, you can’t pour out what you don’t put in. Whether you’re leading a family, a business, or navigating a move, protect your peace. What you feed your mind today determines how you show up tomorrow. 🤍

I’d love to hear from you: What’s one book or account that always boosts your energy? Share it below so we can all add some good fuel to our feeds! 👇
...

26 8

When I first met Heather and Patrick over Zoom, they were planning a huge move all the way from Florida. I happened to be sporting a NY Yankees hat that day. Naturally, they asked if I was a fan.

My honest answer? “Not really, it just goes with my outfit!” 😂

They recently surprised me with some “proper” Seattle attire, a Mariners hat! I couldn’t be more excited to officially join the home team. Plus, my husband Dustin is thrilled, he’s a massive Mariners fan and was more than happy to see me representing.

Thank you, Heather and Patrick! I’m so glad I could be part of your journey to the PNW. 🏠⚓️
...

25 1

You can’t change the wind, but you can always adjust your sail. ⛵️✨

Jim Rohn said it best: the same wind blows on all of us. The difference between where you are and where you want to be is often just a recalibration of your direction.

Stop fighting the gusts you can’t control and start focusing on your sail. That’s where your real power lives.

Drop a “🙌” if you needed this reminder today.
...

18 2

FOLLOW US

Stay up to date on news and listings that are coming soon!