Define trade discount: a deduction from the list price of goods allowed by a manufacturer or wholesaler to a retailer a deduction from the list price of goods allowed by a manufacturer or wholesaler to a retailerâ¦ See the full definition
Real estate taxes when you buy a home. If you bought a home during the year, check to see if the seller had prepaid property taxes for a period you actually owned the home. If so, include that amount in your property tax deduction for the year. . .even if you did not reimburse the seller. Recreational vehicle. If your RV has cooking, sleeping and sanitation facilities, interest on a loan used to buy it can qualify as deductible mortgage interest on a first or second home.
Can I deduct home improvements on my tax return? On your personal residence, the answer is usually no, although you might qualify for certain kinds of energy-related home improvements. Home improvements may come into play when you sell your home because they're included in your home's adjusted cost basis.