topic If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes? in Deductions & credits

If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

josephnaughton — Sat, 04 Jan 2020 20:33:44 GMT

Re: If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

VolvoGirl — Sat, 04 Jan 2020 20:35:45 GMT

Buying a house doesn't go on your tax return. If you pay mortgage interest and property tax it may be deductible. You will get a 1098 at the end of the year for mortgage interest. So probably not until next year for your 2020 return.

Re: If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

josephnaughton — Sat, 04 Jan 2020 20:37:08 GMT

Thank You Much!