How come we are not getting the tax credit for purchasing our home in September 2017 ?

[DawnC0 · Accepted solution]

Unfortunately, there is no special credit available for purchasing a home.  However, you can deduct your mortgage interest and property taxes.  Because you purchased the home in September, you only have interest and taxes for a few months.  Next year in 2018, when you will have a full year of interest and taxes, you are more likely to see a tax benefit.

Mortgage interest and property taxes are itemized deductions.  The total of your itemized deductions must be larger than your standard deduction before you will see a change in your refund.