Maybe, while it may
not be much, when you purchased your home you could have a few expenses that
can be deducted. You will need your
closing forms to determine this or you can contact your lender to see if you
will be receiving a 1098, which will have the items you can deduct included.
The following expenses would be deductible for your 2016 return if they were
paid;
- Taxes you paid that the
seller did not reimburse.
- Interest that you paid at the
time of purchase
- Points or origination fee
- Private mortgage insurance
costs (only if these were prepaid)
While you had other
expenses, such as documentary stamp, credit report costs, transfer taxes,
attorney fees etc., they will not be deductible, they are added to the cost of
your home. However, with your home
purchase and paying for the entire year, 2017, you will have a lot more to
deduct on your 2017 tax return.
