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Do you have to report purchase of 2nd home anywhere on return? No mortgage.

 
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Rachel_W
Expert Alumni

Do you have to report purchase of 2nd home anywhere on return? No mortgage.

No, the purchase of your 2nd home does not need to be reported on your Tax Return.  

However, you can include property taxes paid for your second residence if you itemize your deductions on Schedule A, if you haven't already reached the $10,000 cap on state, local, sales and property taxes (SALT).

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Rachel_W
Expert Alumni

Do you have to report purchase of 2nd home anywhere on return? No mortgage.

No, the purchase of your 2nd home does not need to be reported on your Tax Return.  

However, you can include property taxes paid for your second residence if you itemize your deductions on Schedule A, if you haven't already reached the $10,000 cap on state, local, sales and property taxes (SALT).

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