# Salvage Values Explained: Depreciation, Tax & Leases

Published: 2026-04-19
Author: Warren Team
URL: https://www.heywarren.com/blog/salvage-value

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When a company buys a $100,000 truck and depreciates it over 10 years to a $10,000 salvage value, that single estimated number, $10K, affects every quarterly depreciation expense, the truck's net book value at any moment, and the gain or loss on eventual sale. Salvage value is one of the smallest line items in any depreciation schedule and one of the most consequential.

The problem is that most business owners and finance students treat salvage values as a footnote, a guess scribbled into a depreciation worksheet and then forgotten. But that estimate ripples through your income statement for years, drives lease pricing, governs insurance settlements, and creates timing differences between your books and your tax return. Get it wrong and you'll either overstate earnings, blow up your [net present value](/blog/calculation-of-net-present-value-formula) calculation, or face an unexpected recapture bill at disposal.

This guide walks through exactly what salvage value is, where it shows up in financial reporting, how each depreciation method handles it, and the tax-versus-book differences that trip up even seasoned accountants. Expect worked examples, industry benchmarks, and the common mistakes I've seen on hundreds of fixed-asset registers. By the end you'll be able to set, defend, and revise salvage value estimates with confidence, whether you're closing the books, pricing a lease, or modeling a capital project.

## What Are Salvage Values?

Salvage value is the estimated amount an entity expects to receive from disposing of an asset at the end of its useful life, net of disposal costs. Also called residual value or scrap value, it represents the floor below which an asset's depreciable base will not fall on the books.

![Salvage value is subtracted from cost to determine the depreciable base, which drives every period's depreciation expense.](data:image/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20875%20125%22%20width%3D%22875%22%20height%3D%22125%22%20role%3D%22img%22%3E%3Ctitle%3EFlow%20diagram%3C%2Ftitle%3E%3Crect%20width%3D%22100%25%22%20height%3D%22100%25%22%20fill%3D%22%23f8fafc%22%2F%3E%3Crect%20x%3D%2230%22%20y%3D%2225%22%20width%3D%22170%22%20height%3D%2275%22%20rx%3D%2210%22%20fill%3D%22white%22%20stroke%3D%22%232563eb%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22115%22%20y%3D%2258.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EAsset%20Cost%3C%2Ftext%3E%3Ctext%20x%3D%22115%22%20y%3D%2278.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2211%22%20fill%3D%22%2364748b%22%3E%24100%2C000%3C%2Ftext%3E%3Cline%20x1%3D%22205%22%20y1%3D%2262.5%22%20x2%3D%22237%22%20y2%3D%2262.5%22%20stroke%3D%22%2364748b%22%20stroke-width%3D%222%22%2F%3E%3Cpolygon%20points%3D%22244%2C62.5%20235%2C57.5%20235%2C67.5%22%20fill%3D%22%2364748b%22%2F%3E%3Crect%20x%3D%22245%22%20y%3D%2225%22%20width%3D%22170%22%20height%3D%2275%22%20rx%3D%2210%22%20fill%3D%22white%22%20stroke%3D%22%232563eb%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22330%22%20y%3D%2258.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EMinus%20Salvage%3C%2Ftext%3E%3Ctext%20x%3D%22330%22%20y%3D%2278.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2211%22%20fill%3D%22%2364748b%22%3E%2410%2C000%3C%2Ftext%3E%3Cline%20x1%3D%22420%22%20y1%3D%2262.5%22%20x2%3D%22452%22%20y2%3D%2262.5%22%20stroke%3D%22%2364748b%22%20stroke-width%3D%222%22%2F%3E%3Cpolygon%20points%3D%22459%2C62.5%20450%2C57.5%20450%2C67.5%22%20fill%3D%22%2364748b%22%2F%3E%3Crect%20x%3D%22460%22%20y%3D%2225%22%20width%3D%22170%22%20height%3D%2275%22%20rx%3D%2210%22%20fill%3D%22white%22%20stroke%3D%22%232563eb%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22545%22%20y%3D%2258.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EDepreciable%20Base%3C%2Ftext%3E%3Ctext%20x%3D%22545%22%20y%3D%2278.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2211%22%20fill%3D%22%2364748b%22%3E%2490%2C000%3C%2Ftext%3E%3Cline%20x1%3D%22635%22%20y1%3D%2262.5%22%20x2%3D%22667%22%20y2%3D%2262.5%22%20stroke%3D%22%2364748b%22%20stroke-width%3D%222%22%2F%3E%3Cpolygon%20points%3D%22674%2C62.5%20665%2C57.5%20665%2C67.5%22%20fill%3D%22%2364748b%22%2F%3E%3Crect%20x%3D%22675%22%20y%3D%2225%22%20width%3D%22170%22%20height%3D%2275%22%20rx%3D%2210%22%20fill%3D%22white%22%20stroke%3D%22%232563eb%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22760%22%20y%3D%2258.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EAnnual%20Expense%3C%2Ftext%3E%3Ctext%20x%3D%22760%22%20y%3D%2278.5%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2211%22%20fill%3D%22%2364748b%22%3E%249%2C000%2Fyr%3C%2Ftext%3E%3C%2Fsvg%3E)

*Salvage value is subtracted from cost to determine the depreciable base, which drives every period's depreciation expense.*

The concept exists because depreciation is meant to allocate only the consumed portion of an asset's cost. If you expect to sell that truck for $10,000 after a decade of service, you only "used up" $90,000 of economic value. Forcing the full $100,000 through depreciation expense would overstate the cost of using the asset.

### Salvage Value vs Scrap Value

The terms are often used interchangeably, but a careful distinction exists. Scrap value typically implies the asset will be sold for raw materials, think melted-down steel from a press. Salvage value is broader and can include resale of a still-functional used asset, like a fleet vehicle sold at auction.

### Salvage Value vs Market Value

Salvage value is an accounting estimate locked in at acquisition. Market value is what a buyer actually pays years later. The gap between the two creates the gain or loss on disposal that hits the income statement when the asset finally leaves the books.

## Where Salvage Value Shows Up in Finance

Salvage value is not just an accounting curiosity, it appears in five distinct places across corporate finance, each with different stakes. Understanding each context helps you avoid double-counting or misapplying the same estimate to incompatible calculations.

![Salvage value drives calculations across depreciation, leasing, insurance, capital budgeting, and impairment testing.](data:image/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20760%20211%22%20width%3D%22760%22%20height%3D%22211%22%20role%3D%22img%22%3E%3Ctitle%3EHierarchy%3C%2Ftitle%3E%3Crect%20width%3D%22100%25%22%20height%3D%22100%25%22%20fill%3D%22%23f8fafc%22%2F%3E%3Crect%20x%3D%22300%22%20y%3D%2220%22%20width%3D%22160%22%20height%3D%2258%22%20rx%3D%228%22%20fill%3D%22%232563eb%22%2F%3E%3Ctext%20x%3D%22380%22%20y%3D%2254%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22700%22%20fill%3D%22white%22%3ESalvage%20Value%3C%2Ftext%3E%3Cpath%20d%3D%22M%20380%2078%20L%20380%20105.5%20L%20110%20105.5%20L%20110%20133%22%20stroke%3D%22%23cbd5e1%22%20stroke-width%3D%222%22%20fill%3D%22none%22%2F%3E%3Crect%20x%3D%2230%22%20y%3D%22133%22%20width%3D%22160%22%20height%3D%2258%22%20rx%3D%228%22%20fill%3D%22white%22%20stroke%3D%22%230891b2%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22110%22%20y%3D%22158%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2213%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EDepreciation%3C%2Ftext%3E%3Ctext%20x%3D%22110%22%20y%3D%22176%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2210%22%20fill%3D%22%2364748b%22%3EDepreciable%20base%3C%2Ftext%3E%3Cpath%20d%3D%22M%20380%2078%20L%20380%20105.5%20L%20290%20105.5%20L%20290%20133%22%20stroke%3D%22%23cbd5e1%22%20stroke-width%3D%222%22%20fill%3D%22none%22%2F%3E%3Crect%20x%3D%22210%22%20y%3D%22133%22%20width%3D%22160%22%20height%3D%2258%22%20rx%3D%228%22%20fill%3D%22white%22%20stroke%3D%22%230891b2%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22290%22%20y%3D%22158%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2213%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3ELeases%3C%2Ftext%3E%3Ctext%20x%3D%22290%22%20y%3D%22176%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2210%22%20fill%3D%22%2364748b%22%3EResidual%20%2F%20monthly%20pmts%3C%2Ftext%3E%3Cpath%20d%3D%22M%20380%2078%20L%20380%20105.5%20L%20470%20105.5%20L%20470%20133%22%20stroke%3D%22%23cbd5e1%22%20stroke-width%3D%222%22%20fill%3D%22none%22%2F%3E%3Crect%20x%3D%22390%22%20y%3D%22133%22%20width%3D%22160%22%20height%3D%2258%22%20rx%3D%228%22%20fill%3D%22white%22%20stroke%3D%22%230891b2%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22470%22%20y%3D%22158%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2213%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3ECapital%20Budgeting%3C%2Ftext%3E%3Ctext%20x%3D%22470%22%20y%3D%22176%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2210%22%20fill%3D%22%2364748b%22%3ENPV%20terminal%20cash%20flow%3C%2Ftext%3E%3Cpath%20d%3D%22M%20380%2078%20L%20380%20105.5%20L%20650%20105.5%20L%20650%20133%22%20stroke%3D%22%23cbd5e1%22%20stroke-width%3D%222%22%20fill%3D%22none%22%2F%3E%3Crect%20x%3D%22570%22%20y%3D%22133%22%20width%3D%22160%22%20height%3D%2258%22%20rx%3D%228%22%20fill%3D%22white%22%20stroke%3D%22%230891b2%22%20stroke-width%3D%222%22%2F%3E%3Ctext%20x%3D%22650%22%20y%3D%22158%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2213%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EInsurance%3C%2Ftext%3E%3Ctext%20x%3D%22650%22%20y%3D%22176%22%20text-anchor%3D%22middle%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2210%22%20fill%3D%22%2364748b%22%3ETotal-loss%20settlements%3C%2Ftext%3E%3C%2Fsvg%3E)

*Salvage value drives calculations across depreciation, leasing, insurance, capital budgeting, and impairment testing.*

### Depreciation Calculations

The depreciable base equals cost minus salvage value. Every period's depreciation expense flows from this number, which means salvage value directly determines net book value at any reporting date.

### Insurance, Leases, and Capital Budgeting

In insurance, salvage value drives totaled-vehicle settlements, the insurer pays you market value but keeps the wreck and recovers its salvage. In auto leases, the residual value (effectively a salvage estimate) sets the monthly payment. In capital budgeting, salvage value becomes the terminal cash flow in year N of a discounted cash flow model. Asset disposal accounting also uses it: gain or loss equals proceeds minus net book value, where NBV is cost minus [accumulated depreciation](/blog/accumulated-depreciation).

## Salvage Value in Depreciation Methods

Each depreciation method treats salvage value differently, and the choice can shift expense recognition by tens of thousands of dollars over an asset's life. The four most common [GAAP](https://www.fasb.org/)-compliant methods all reference salvage value, but only some subtract it from the depreciable base directly.

### Straight-Line and Units of Production

Straight-line depreciation is the cleanest: (Cost − Salvage) / Useful Life. Units of production works similarly: (Cost − Salvage) / Total expected units, multiplied by units used in the period. Both methods explicitly carve out salvage value from what gets depreciated.

### Declining Balance and Sum-of-Years' Digits

Declining balance methods (including double-declining) ignore salvage value in the annual calculation but use it as a floor, book value cannot drop below salvage. Sum-of-years' digits applies the depreciable base (cost minus salvage) against a fractional schedule that front-loads expense. Both eventually converge so that ending book value matches estimated salvage.

## How to Calculate Salvage Value

Calculating salvage value is part research, part judgment, and part regulatory compliance. There is no single correct number, only defensible estimates supported by documentation. The four standard approaches range from quick rules of thumb to formal discounted cash flow analysis.

Start with manufacturer or industry guidelines, which often publish expected residual percentages. Layer in historical sales data from comparable assets your firm or industry has actually disposed of. For long-lived assets, forecast end-of-life market conditions, a diesel truck sold into a 2035 market may face very different demand than one sold today. For high-value items, discount expected future cash flows to acquisition date.

Industry rules of thumb provide a useful sanity check: passenger vehicles typically run 10–15% of cost, computers around 5%, heavy equipment 10–25%, aircraft 5–15%, and commercial buildings anywhere from 0–30% (with land carved out separately). If your estimate strays far from these bands, document why.

### Worked Example: The $100K Truck

Suppose you buy a delivery truck for $100,000, expect 10 years of useful life, and estimate $10,000 salvage value. Straight-line depreciation equals ($100,000 − $10,000) / 10 = $9,000 per year. After five years, accumulated depreciation totals $45,000 and net book value sits at $55,000. At the end of year 10, NBV equals exactly the $10,000 salvage value, by design.

### When and How to Revise

Salvage value is generally a one-time estimate at acquisition, but circumstances change. Technology obsolescence, regulatory shifts, and market disruptions can all warrant revision. Under both GAAP and [IFRS](https://www.ifrs.org/), changes are accounted for prospectively, you adjust future depreciation, not prior periods.

## Salvage Value in Depreciation for Tax vs Book

Here is where many practitioners get tripped up. Financial reporting under GAAP and IFRS uses estimated salvage value to compute depreciable base. US tax law under MACRS, by contrast, generally assumes zero salvage value and applies prescribed recovery periods with built-in conventions.

![Selling the $100K truck for $15,000 produces a $5,000 book gain but a $15,000 taxable gain under MACRS zero-salvage rules.](data:image/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20800%20210%22%20width%3D%22800%22%20height%3D%22210%22%20role%3D%22img%22%3E%3Ctitle%3EComparison%3C%2Ftitle%3E%3Crect%20width%3D%22100%25%22%20height%3D%22100%25%22%20fill%3D%22%23f8fafc%22%2F%3E%3Ctext%20x%3D%22230%22%20y%3D%2257.5%22%20text-anchor%3D%22end%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3EBook%20Gain%20%28GAAP%29%3C%2Ftext%3E%3Crect%20x%3D%22240%22%20y%3D%2225%22%20width%3D%22150%22%20height%3D%2255%22%20rx%3D%226%22%20fill%3D%22%232563eb%22%2F%3E%3Ctext%20x%3D%22402%22%20y%3D%2257.5%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22700%22%20fill%3D%22%232563eb%22%3E%245.0K%3C%2Ftext%3E%3Ctext%20x%3D%22230%22%20y%3D%22152.5%22%20text-anchor%3D%22end%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22600%22%20fill%3D%22%230f172a%22%3ETax%20Gain%20%28MACRS%29%3C%2Ftext%3E%3Crect%20x%3D%22240%22%20y%3D%22120%22%20width%3D%22450%22%20height%3D%2255%22%20rx%3D%226%22%20fill%3D%22%237c3aed%22%2F%3E%3Ctext%20x%3D%22702%22%20y%3D%22152.5%22%20font-family%3D%22system-ui%2C-apple-system%2Csans-serif%22%20font-size%3D%2214%22%20font-weight%3D%22700%22%20fill%3D%22%237c3aed%22%3E%2415K%3C%2Ftext%3E%3C%2Fsvg%3E)

*Selling the $100K truck for $15,000 produces a $5,000 book gain but a $15,000 taxable gain under MACRS zero-salvage rules.*

The result: tax depreciation is faster than book depreciation in early years, creating a deferred tax liability. The liability reverses over the asset's life as book depreciation continues but tax depreciation tapers. This book-versus-tax timing difference is one of the most common reconciling items on Schedule M-1 of a corporate tax return.

### Section 1245 and Section 1250 Recapture

When you sell a depreciated asset for more than its tax basis, the [IRS](https://www.irs.gov/) recaptures the gain, taxing it as ordinary income up to the amount of depreciation previously claimed. Section 1245 covers personal property like equipment and vehicles; Section 1250 covers real property. Recapture exists precisely because tax law assumed zero salvage and let you depreciate aggressively.

### Worked Disposal Example

Take that same $100K truck, sold at end of year 10 for $15,000. GAAP basis equals the $10,000 salvage value, so book gain is $5,000. Tax basis under MACRS equals $0, so the entire $15,000 is gain, and because it falls under Section 1245 recapture (depreciation taken was $100,000, far exceeding the gain), the full $15,000 is taxed as ordinary income.

## Salvage Value in Leases and Capital Budgeting

Outside the fixed-asset register, salvage value drives two of the most consequential calculations in corporate finance: lease pricing and capital project valuation. The mechanics differ, but the underlying logic is identical, what is this asset worth at the end?

In an auto lease, the residual value is set as a percentage of MSRP at lease inception. The lessor finances only the difference between capitalized cost and residual, so a higher residual produces a lower monthly payment. The lessor accepts residual risk if the lessee returns the vehicle and market value has dropped. Some commercial leases shift this risk back via a residual value guarantee from the lessee.

In capital budgeting, salvage value enters as the terminal cash flow in year N of an NPV or IRR model. You discount it back to present value at the project's cost of capital. For long-lived projects with modest annual cash flows, the salvage value can be the deciding factor between accepting and rejecting the investment.

## Salvage Value vs Recoverable Amount in Impairment

Salvage value and recoverable amount sound similar but answer different questions. Salvage value asks what you'll get at the planned end of useful life. Recoverable amount asks what the asset is worth right now if circumstances have deteriorated.

Under IAS 36 and ASC 360, when carrying value exceeds recoverable amount, you must write the asset down through an impairment charge. Recoverable amount equals the greater of fair value less costs of disposal and value in use (the present value of expected future cash flows from continued use). An impairment write-down does not change estimated salvage value directly, but it does reset the depreciable base going forward.

## Common Salvage Value Mistakes to Avoid

Most salvage value errors fall into a handful of recurring patterns. Catching them early protects both your financial statements and your tax filings from costly restatements.

Setting salvage value too high understates depreciation expense, overstates current net income, and leaves a misleading book value when disposal arrives. Setting it too low does the opposite, overstates depreciation, understates income, and creates a large gain on disposal years later. Failing to revise when technology shifts or markets move leaves stale estimates on the books indefinitely.

Confusing book salvage with tax salvage produces wrong deferred tax calculations and, often, a surprise at filing time. Forgetting depreciation recapture at the point of sale leads to underwithheld estimated taxes and IRS notices. Finally, mixing up scrap value (materials only) with salvage value (potentially a working asset) can distort both insurance proceeds expectations and disposal planning.

## Conclusion

Salvage value is the quietest assumption on a fixed-asset register and one of the most influential. A well-supported estimate produces accurate depreciation, clean disposal accounting, and reliable capital budgeting decisions. A sloppy one creates earnings distortion, tax surprises, and impaired model credibility.

Five takeaways to anchor your practice:

- **Salvage value is the depreciable floor**, not an afterthought, depreciable base equals cost minus salvage value, and that number drives every period's expense.
- **Method matters**: straight-line and units of production subtract salvage value directly; declining balance treats it as a stopping point.
- **Book and tax diverge sharply**, GAAP uses your estimate, MACRS assumes zero, and the resulting timing differences flow through deferred taxes and Section 1245 recapture at disposal.
- **Salvage values appear far beyond depreciation**: lease residuals, insurance settlements, NPV terminal cash flows, and impairment testing all draw on the same underlying judgment.
- **Document and revise**, anchor estimates in industry data, manufacturer guidance, or discounted cash flows, and update prospectively when conditions change.

As asset lives shorten under faster technology cycles and as IFRS and US GAAP continue converging on impairment testing, the discipline around salvage value estimation will only grow more important. Treat it as a real estimate, not a placeholder, and your fixed-asset accounting will repay the effort across every reporting period.

Ready to put this knowledge to work? Try Warren, your AI financial advisor, get personalized, conflict-free guidance at heywarren.com

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## Related Reading

**More from Warren**:
- [OpCo PropCo: How Businesses Split Operations and Real Estate for Tax and Capital Efficiency](/blog/opco-propco)
- [Operating Lease vs. Finance Lease: Key Differences in Accounting and Economics](/blog/operating-vs-financial-lease)
- [REMIC Explained: Tax Structure Behind US Mortgage MBS](/blog/remic)

**Authoritative sources**:
- [Consumer Financial Protection Bureau, Owning a Home](https://www.consumerfinance.gov/owning-a-home/)
- [HUD, Homeownership](https://www.hud.gov/topics/buying_a_home)
- [IRS, Real Estate Tax Center](https://www.irs.gov/businesses/small-businesses-self-employed/real-estate-tax-center)