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aroberts
New Member

If I bought a home during 2016 but didn't make a payment until 2017, is there any tax breaks I can get for buying a home?

 
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3 Replies

If I bought a home during 2016 but didn't make a payment until 2017, is there any tax breaks I can get for buying a home?

Did you pay property taxes at closing?
aroberts
New Member

If I bought a home during 2016 but didn't make a payment until 2017, is there any tax breaks I can get for buying a home?

That's a good question. I will have to find that out.
Carl
Level 15

If I bought a home during 2016 but didn't make a payment until 2017, is there any tax breaks I can get for buying a home?

Yes you do, depending on what you paid at closing. You will NEED the HUD-1 closing statement you received at the closing. Just work it through the "your home" section, assuming this is your primary residence and NOT investment property (such as rental property) that you purchased. The program will ask you if you purchased/owned a home in 2016. You indicate YES, and it will work you through the process.

The HUD-1 statement you received at the closing MAY BE DIFFERENT than what I know it to be, because your closing agent may have used the new one. If you have questions concerning what's what, (you may or may not) then the first thing we have to do is determine which HUD-1 closing statement you received. We'll deal with that, only if necessary.

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