None of the funds you used to purchase a personal residence are deductible on a tax return.
You can deduct as itemized deductions on Schedule A the mortgage loan interest paid during the year, any points paid on the loan for the personal residence and any property taxes paid for the residence.
However, the total of all itemized deductions on Schedule A must be greater than the Standard Deduction for your filing status to have any tax benefit.
Standard deductions for 2019
- Single - $12,200 add $1,650 if age 65 or older
- Married Filing Separately - $12,200 add $1,300 if age 65 or older
- Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
- Head of Household - $18,350 add $1,650 if age 65 or older
