FIRST TIME HOME OWNER

clacor1 — Tue, 24 Feb 2026 07:36:34 GMT

Hi there, I purchased a co-op in 2023 in New York State, I am a first-time homeowner and single, no dependents How can I maximize my credits and what kind of credits are available for someone in my situation?

Thanks

Re: FIRST TIME HOME OWNER

carmen_t — Wed, 25 Oct 2023 17:21:35 GMT

Congratulations and thank you for your question. There may be some tax benefits to your new home purchase. The main area of possible benefits will be with your Schedule A itemized deductions. You now have mortgage interest and real estate taxes paid on main home that can be utilized. I will attached a link to the Schedule A Itemized Deductions. I recommend to take a look and keep track to see if it makes a difference to put you over the standard deduction amount. The key is to chose the higer one (itemized vs standard). I will also include a link to an article from TurboTax site that focuses on buying your first home. Have a great day!

From TurboTax "Buying Your First Home"

From IRS "Buying your first home"

topic FIRST TIME HOME OWNER in Get your taxes done using TurboTax

FIRST TIME HOME OWNER

Re: FIRST TIME HOME OWNER