Mortgage Problems? Donate House to Fire Department ~ Tax Deduction
 

LOOP HOLE???

Burning down the house? IRS nixes tax deductions

by Meghan Barr
Friday, September 25, 2009

The IRS is attempting to stop tax deductions for those who donate their homes to the fire department.

UPPER ARLINGTON, Ohio -- The battered house on Sherwin Road was put to good use before the fire department burned it to the ground.

SWAT teams barged through the front door in an exercise on dealing with domestic violence. Rescue crews scattered mannequins around the house and blew smoke through the halls to simulate a meth lab explosion. Firefighters set fires in one room after another and practiced putting them out. Then, in one last drill, they torched the whole place.

The Internal Revenue Service is trying to stop homeowners from claiming such deductions.

Continues: http://finance.yahoo.com/banking-bud...d=taxes-filing