Hello echanizl,
Congratulations on the purchase of your home!
You would be able to deduct the mortgage interest and property taxes. If you paid any Points on the mortgage, that would be deductible also. You get the tax benefit only if your Itemized deductions are more than the Standard Deduction.
If you're not married and you are both on the mortgage, you may allocate the deductions between the two of you in any way you like.
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