cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Do I get a tax break for buying a new home in 2017?

 
1 Best answer

Accepted Solutions
Level 12

Do I get a tax break for buying a new home in 2017?

Yes, you may be able to claim mortgage interest, property tax, and mortgage insurance paid. 

The following items on your HUD-1 closing statement are deductible.

Lines 210 and 211 have county and city property tax info. This should be added to any other property tax paid during the year

Lines 801 and 802 are mortgage points.

Line 901 is daily mortgage interest

Line 902 is mortgage insurance premium

You can also claim the above expenses paid since closing which may be designated on a 1098 mortgage interest statement from your lender in the following area:

·       Type in mortgage interest in the search box, top right of

         your screen, hit the Enter key

·       Click jump to mortgage interest in the search results

·       Follow the prompts and online instructions


1 Reply
Level 12

Do I get a tax break for buying a new home in 2017?

Yes, you may be able to claim mortgage interest, property tax, and mortgage insurance paid. 

The following items on your HUD-1 closing statement are deductible.

Lines 210 and 211 have county and city property tax info. This should be added to any other property tax paid during the year

Lines 801 and 802 are mortgage points.

Line 901 is daily mortgage interest

Line 902 is mortgage insurance premium

You can also claim the above expenses paid since closing which may be designated on a 1098 mortgage interest statement from your lender in the following area:

·       Type in mortgage interest in the search box, top right of

         your screen, hit the Enter key

·       Click jump to mortgage interest in the search results

·       Follow the prompts and online instructions