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Buying a Home

Save on your taxes after making this significant purchase.

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The basics
Deduct your mortgage interest, points, and property taxes

Your lender will send you a Form 1098 that lists all of the interest and points you've paid. If you're itemizing; interest, points, and property taxes can all be deducted.

Energy-saving home improvements pay off

There's an energy tax credit worth up to $400 for things like energy-efficient AC units, windows, and insulation systems.

Mortgage insurance is also deductible

If you have to pay mortgage insurance, you might be able to deduct those premiums. They'll also be listed on your Form 1098.

Latest buying a home articles
What does buying a home mean for my taxes? Learn more I bought a house, what can I deduct? Learn more
Can I deduct my mortgage interest? Learn more Can I claim energy-efficient appliances or energy-saving home improvements? Learn more
Can I claim property (real estate) taxes if I recently bought or sold my home? Learn more Can I deduct home improvements on my tax return? Learn more
Check out the buzz over at our community forums
mikelub in Get your taxes done

Gift tax

Jan 6, 2024 10 min read
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I am unable to enter a distribution from a traditional IRA for first time home purchase. However I am given the option with ROTH IRA distribution.

Jan 27, 2024 10 min read
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Reporting Owner Financed Interest

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