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osusannalh
New Member

I purchased a 2nd home (that will become my primary residence in 2020) in 2019. Where and what deductions can I claim from settlement?

 
1 Reply
JohnB5677
Expert Alumni

I purchased a 2nd home (that will become my primary residence in 2020) in 2019. Where and what deductions can I claim from settlement?

Mortgage interest and property taxes can be included in the same area as the information from your first home.

 

You can also include certain settlement costs to adjust your basis (the purchase price of the house) for a first or second home.  This will not show up on your current tax return, but it may affect the sale of the home.

 

To see what costs are include, please see:    Settlement Cost Summary

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