Does purchasing a second home in 2018 and retaining my first home need to be reported to IRS?

barbkel — Sat, 01 Jun 2019 15:21:52 GMT

There is a question in the form that asks if I purchased a home in 2018. Since it is my second home, do I say yes?

No, you don't have to let the IRS know that you purchased...

HelenaC — Sat, 01 Jun 2019 15:21:54 GMT

No, you don't have to let the IRS know that you purchased a second home. The reason TurboTax is asking this question is because you may be able to deduct property taxes, mortgage interest and PMI.

You may enter "yes" if you want to deduct property taxes, mortgage interest and PMI. See the following information: https://ttlc.intuit.com/replies/5760025

topic Does purchasing a second home in 2018 and retaining my first home need to be reported to IRS? in Deductions & credits

Does purchasing a second home in 2018 and retaining my first home need to be reported to IRS?

No, you don't have to let the IRS know that you purchased...