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njjuve
New Member

I bought a new home in 2017 but did not sell the old home until 2018. Can I claim the interest and taxes I paid on the new home for 2017 in addition to my old home?

 
1 Reply
DianeW
Expert Alumni

I bought a new home in 2017 but did not sell the old home until 2018. Can I claim the interest and taxes I paid on the new home for 2017 in addition to my old home?

Yes, you can use the property taxes and mortgage interest you paid on both properties for 2017.  Be sure to include your points or loan origination fees from the purchase of the new home.

Mortgage interest and property taxes paid are deductible and the prorated share of property taxes from the settlement statement in the buyer column for the new house you purchased. Do not include money set aside in the escrow account for a future tax payment.

To record these expenses while you are logged into your TurboTax Premier account:

  • In the search box type itemized deductions
  • Jump to itemized deductions
  • Continue to answer the questions and enter the information
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