KANSAS CITY, MO--(Marketwired - January 29, 2016) - H&R Block (NYSE: HRB), the world's largest consumer tax preparation company, is wrapping up the second week of drawings for its 1,000 Win $1,000 Daily Sweepstakes and winners are sharing how they will use their winnings. Some common themes are helping to buy a house and making improvements to a house.
"We've learned that many people are using their $1,000 winnings to put down a rental deposit on a new apartment, fix up their home and even help with buying a home," said Kathy Collins, H&R Block's chief marketing officer. "Homeownership is one common theme in the American Dream. The fact our clients are able to use this money to help build and improve their lives -- and even facilitate purchasing homes -- is incredible."
'Home' is where the heart is -- and in the names of cities where winners live
In the past week, the word "home" has kept popping up in relation to the sweepstakes. It's in plans winners have for the future and in the names of cities where other winners reside. These are the cities some of the winners literally call "home":
- Mahomet, Ill.
- Prairie Home, Mo.
- Homer, Ga.
- Homestead, Fla.
- Highland Home, Ala.
- Mountain Home, Utah.
Homeownership key to unlock certain tax breaksitemized deduction. Private mortgage insurance premiums also are deductible as interest, and homeowners may be able to deduct some points and fees, too.
"Only 1 in 3 taxpayers itemize their tax deductions, but millions more should -- especially homeowners," said Kathy Pickering, executive director of The Tax Institute at H&R Block. "For some taxpayers, owning a house is the key that unlocks itemization."
When a taxpayer has a full year's worth of house-related taxes and interest, plus other items they can itemize, they are more likely to be over the threshold for being able to itemize their deductions. By itemizing, a taxpayer also can deduct these qualifying items:
- Charitable donations
- Medical expenses
- Personal property tax on cars, etc.
- State and local income taxes or state and local sales taxes
- Employee business expenses
- Casualty losses. www.hrblock.com/grandH&R Block tax professionalwww.hrblock.com or calling 800-HRBLOCK.
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Abbreviated Rules click here. Open to legal U.S. residents (50 states + DC & PR) age 18+. Entry Period: 1/4/16 - 2/15/16. One entry per taxpayer with paid federal tax return. Daily drawings 1/16/16 - 2/15/16 + final drawing on 2/19/16. 1,000 winners per drawing; 32,000 winners total. Total ARV: $32,000,000. Void where prohibited.
For Further Informationmediadesk@hrblock.com