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josephnaughton
New Member

If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

 
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VolvoGirl
Level 15

If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

Buying a house doesn't go on your tax return.  If you pay mortgage interest and property tax it may be deductible.  You will get a 1098 at the end of the year for mortgage interest.  So probably not until next year for your 2020 return.

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VolvoGirl
Level 15

If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

Buying a house doesn't go on your tax return.  If you pay mortgage interest and property tax it may be deductible.  You will get a 1098 at the end of the year for mortgage interest.  So probably not until next year for your 2020 return.

View solution in original post

josephnaughton
New Member

If I entered into an agreement to purchase a new home in 2019, but won't close or take possession of the home until April 2020, how do I address this in our 2019 taxes?

Thank You Much!

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