Publication 530 - Introductory Material
This is archived information that pertains only to the 2006 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Limit on itemized deductions. Certain itemized deductions (including taxes and home mortgage interest) are limited if your adjusted gross income is more
than $150,500 ($75,250
if you are married filing separately). For more information, see the Instructions for Schedule A (Form 1040).
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of
missing children
selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children
home by looking at the
photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
This publication provides tax information for first-time homeowners. Your first home may be a house, condominium, cooperative
apartment, mobile
home, houseboat, or house trailer.
The following topics are explained.
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How you treat items such as settlement and closing costs, real estate taxes, sales taxes, home mortgage interest, and repairs.
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What you can and cannot deduct on your tax return.
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The tax credit you can claim if you received a mortgage credit certificate when you bought your home.
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Why you should keep track of adjustments to the basis of your home. (Your home's basis generally is what it costs; adjustments
include the
cost of any improvements you might make.)
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What records you should keep as proof of the basis and adjusted basis.
Comments and suggestions.
We welcome your comments about this publication and your suggestions for future editions.
You can write to us at the following address:
Internal Revenue Service
Individual Forms and Publications Branch
SE:W:CAR:MP:T:I
1111 Constitution Ave. NW, IR-6406
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number,
including the area code, in
your correspondence.
You can email us at
*taxforms@irs.gov. (The asterisk must be included in the
address.) Please put “
Publications Comment” on the subject line. Although we cannot respond individually to each email, we do appreciate your
feedback and will consider your comments as we revise our tax products.
Ordering forms and publications.
Visit
www.irs.gov/formspubs to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response
within 10 business days after your request is received.
National Distribution Center
P.O. Box 8903
Bloomington, IL 61702-8903
Tax questions.
If you have a tax question, visit
www.irs.gov or call 1-800-829-1040. We cannot answer tax questions sent to
either of the above addresses.
Useful Items - You may want to see:
Publication
-
523
Selling Your Home
-
527
Residential Rental Property
-
547
Casualties, Disasters, and Thefts
-
551
Basis of Assets
-
555
Community Property
-
587
Business Use of Your Home
-
936
Home Mortgage Interest Deduction
See How To Get Tax Help, near the end of this publication, for information about getting publications and forms.
