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In case you take real estate tax breaks for granted - don’t. The National Association of Realtors fought hard and long for all of them.
Due to Realtor efforts, the interest paid on mortgages became tax deductible in 1920. This has been a major savings for homeowners. In 1962, the National Association won a six-year campaign that allowed sellers to defer capital gains taxes on the sale of their home if another home of equal or greater value was purchased. Realtors were responsible for winning depreciation deductions; for deductibility of fix-up costs and broker’s commissions from the sale price for tax purposes.
84.6%