You'll need to sign in or create an account to connect with an expert.
There are no immediate tax breaks for buying a home (such as a homebuyer credit) for cash but keep in mind that you are allowed a deduction for all property tax paid including any property tax that you may have paid at closing that you may find on your HID-1 closing statement.
See What Information Do I Need From My HUD Statement
To enter property taxes in TurboTax Online:
Click My Account (Top right of your screen)
Select Tools.
In the pop up window, select Topic Search.
In the search bar, type in property taxes-real estate
Highlight it and select GO, and follow the prompts
There are no immediate tax breaks for buying a home (such as a homebuyer credit) for cash but keep in mind that you are allowed a deduction for all property tax paid including any property tax that you may have paid at closing that you may find on your HID-1 closing statement.
See What Information Do I Need From My HUD Statement
To enter property taxes in TurboTax Online:
Click My Account (Top right of your screen)
Select Tools.
In the pop up window, select Topic Search.
In the search bar, type in property taxes-real estate
Highlight it and select GO, and follow the prompts
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
kyler898
New Member
ForbidInjustice
Returning Member
ramanathan1720
Returning Member
Fisher101328
New Member
edward-barr
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.