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Justin-M-Tomayko
New Member

I bought a home, but my first mortgage payment was not due until 01/01/2017. Should I still say that I bought a home in 2016?

 
1 Reply
Texas Roger
Level 15

I bought a home, but my first mortgage payment was not due until 01/01/2017. Should I still say that I bought a home in 2016?

Yes there may be some closing costs that you can deduct on your 2016 tax return. However, unless you have other itemized deductions, you would probably not have enough deductions from the closing to make your itemized deductions add up to more than the standard deduction.

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