Bought a house with cash December 2002 is there anything I should file

Forum|Forum|3 years ago
February 1, 2023
2 replies
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xmasbaby0

Level 15

2002? Or is that a typo? Do you mean 2022? Nevertheless , if you paid cash you do not have mortgage interest to enter. If you paid property tax in 2022 you can add the property tax you paid.

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HelenC12

Level 15

Unless it's a rental, you won't be able to deduct homeowner's insurance, repairs, or home improvements. Also, moving expenses are no longer deductible for most taxpayers.

Be sure to hold onto your closing statement, as it lists expenses that could be deductible, like points and prepaid interest.

Also, start saving your home improvement receipts. You won't be able to deduct those right now, but they can reduce your gain (along with any capital gains tax) when you sell in the future.

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