Homeowner tax breaks set to expire

By Marcie Geffner - HSH.com

Homeowners enjoy a number of preferences in the federal tax code. But three of those preferences expire on Dec. 31, 2013.

"There may be fewer homeowner tax breaks in 2014, unless the expiring provisions are extended," explained Mildred Carter, senior federal tax analyst at CCH Tax & Accounting, a Wolters Kluwer company in Riverwoods, Ill. "These include the itemized deduction for mortgage insurance premiums, the residential energy property credit and the exclusion from gross income for discharge of qualified principal residence indebtedness."

Read more: http://www.hsh.com/finance/mortgage/tax-breaks-homeowners-expire-2013.html