Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Showing results for 
Search instead for 
Did you mean: 
New Member

If I bought property last year, do I claim that?

1 Reply
New Member

If I bought property last year, do I claim that?

If you purchased a property, you don't actually claim the purchase.  

If this was a first or second home, you could deduct any property tax or mortgage interest paid, plus any points paid at closing., and possibly Private Mortgage Insurance, depending on your income.  

If a rental property and the property was made available for rent, you would claim expenses and depreciation under the Rental property interview.  

If it was an investment , like land, you could still claim any property tax paid.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies