No it would not change the cost basis of your home. That would remain as the original price plus improvements. Mortgage deductibility  has always been no more the the acquisition loan amount and any other borrowed funds that improved the property or for a HELOC were borrowed with the home as collateral. New rules are pretty convoluted. I thought this was a good article(but does not seem to answer your question)  https://www.valuepenguin.com/mortgages/mortgage-interest-deduction-2018 Also look at IRS Pub 936    ... View more

Not enough information to say  but your gross income less the standard deduction amount of 18,000 would leave you in 24% tax bracket for income over 82,000. Depending on your amount withheld over the year from your pay you could still owe at the end of the year. https://www.bankrate.com/finance/taxes/tax-brackets.aspx  Did you have state taxes(which are limited this year to 10,000) which includes state income taxes and your real estate taxes and your mortgage interest. that exceed the 18,000 standard deduction? Medical expenses that are over 7.5% of your AGI are also deductible.  There is no longer a personal exemption of 4,050 which reduces the taxable income but there is a family credit(which reduces the tax owed) of 500 per individual.  ... View more

So sorry this got missed. It is usually a browser problem that can be fixed by closing out the program and   restarting the program. If it still does not work you can try using a different browser.   Is there a section in there that asks you how you choose to pay. You have to make that choice to continue(I have a different version) It will ask for credit card info and won't move forward if any field is left empty or incorrect. ... View more

Yeah, I'm not a fan either. The new rules do not favor things that have been a part of US law for a long time. It does not favor home ownership,families, marriage,or support for local services provided by the states. It does favor estates and landlords. go figure.  There is a tax credit , a temporary measure , that was added in which kind of replaces the personal exemptions. The exemption lowered your taxable income-this cuts down on the tax owed. It is a not refundable credit. https://www.thebalance.com/no-more-personal-exemptions-you-can-still-claim-these-tax-credits-4169655 quote  s of 2018, you can also claim a tax credit for dependents who are older than age 16. The TCJA provides for a Family Tax Credit now as well. It's only worth $500, but that's better than nothing. Most of the qualifying rules are the same as for the Child Tax Credit, except adult dependents don't have to have valid Social Security numbers. Your dependent will need an Adoption Taxpayer Identification Number (ATIN), however, or an Individual Taxpayer Identification Number (ITIN).  Unfortunately, this credit is not refundable, so the most it can do is shave $500 off your tax bill for each qualifying dependent. ... View more

I have not had any experience with being the general contractor or builder of a home. You sound like you are doing the right things to get going on your project. A 20% down payment  is normal for a regular mortgage but  may not be enough for the construction loan. You do have some value as collateral in the land you own but the banks want to see something they can resell if need be.  All the internet stuff I saw on construction loans was put out by loan companies-and you are seem not yet ready to have them  ringing up your phone. Good luck with your goals   .  @jlohani  do you have any info/sources for him? ... View more

? How long did you live in the state of Maryland?.  Did you work in a reciprocal state ,DC, Penn while living in MD? https://taxes.marylandtaxes.gov/Individual_Taxes/Individual_Tax_Types/Income_Tax/Filing_Information/Determine_Residency_Status/ If you were in MD they consider you a full year resident if over 183 days but you should get a credit for taxes paid to another state. ... View more

https://ttlc.intuit.com/questions/2963870-how-do-i-enter-a-large-number-of-stock-transactions-in-turbotax-online https://ttlc.intuit.com/questions/1899287-how-many-stock-transactions-can-turbotax-online-handle   I hope you already found your answer  but here are some  archive answers. ... View more

Not all origination fees are a deductible expense . Only those fees that are prepaid interest as in discount points . See this article https://thelendersnetwork.com/what-are-mortgage-points/ You would have to amend the tax return for the year in which you closed on the house.  ... View more

Check at least one of the big 3 credit reporting agencies to see if the debt shows on your official report. If you are disputing it  you will need to contact them to have it removed. https://www.annualcreditreport.com/generalQuestions.action     Don't respond to a phone debt collection except to get their name and authorization info. Many scams use this as a way to get personal information from you. Work through the credit agency / Know what statutory limits there are on unsecured debt in your state. ... View more

Unsure, but there does seem to be a process for refunds for out of area non-residents to request a refund. Ask your HR person if you can choose to not have the city tax deducted. Here is link to city tax dept https://www.cincinnati-oh.gov/finance/frequently-asked-questions/ ... View more