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rbeach223
New Member

If I purchased a home in December of 2021 can I claim it on my 2021 taxes or do I need to wait until 2022? I can’t seem to find a 1098 form so I’m not sure what to do.

 
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2 Replies

If I purchased a home in December of 2021 can I claim it on my 2021 taxes or do I need to wait until 2022? I can’t seem to find a 1098 form so I’m not sure what to do.

Any related expenses paid in 2021 are deductible. Look at your closing statement to see if you paid any property tax. 

LeonardS
Expert Alumni

If I purchased a home in December of 2021 can I claim it on my 2021 taxes or do I need to wait until 2022? I can’t seem to find a 1098 form so I’m not sure what to do.

No, you can not claim deductible expenses for your home purchased in 2021 on your 2022 return.  They can only be deducted on your 2021 tax return.  You can only deduct the expenses if you itemize your deductions.  If you take the standard deduction you can not deduct the expenses.

 

Single

Your standard deduction starts at $12,550.

  • Add $1,700 if you were born before January 2, 1957.
  • Add $1,700 if you were blind as of December 31, 2021.

Married Filing Jointly or Qualified Widow(er) with Dependent Child

Your standard deduction starts at $25,100.

  • Add $1,350 if you were born before January 2, 1957.
  • Add $1,350 if your jointly-filing spouse was born before January 2, 1957.
  • Add $1,350 if you were blind as of December 31, 2021.
  • Add $1,350 if your jointly-filing spouse was blind as of December 31, 2021

Head of Household

Your standard deduction starts at $18,800.

  • Add $1,700 if you were born before January 2, 1957.
  • Add $1,700 if you were blind as of December 31, 2021.

Married Filing Separately

Your standard deduction starts at $12,550.

  • Add $1,350 if you were born before January 2, 1957.
  • Add $1,350 if you were blind as of December 31, 2021

 

If you want to file itemized and do not have Form 1098 in time for you to file your taxes by the April 18, 2022 deadline.  You may want to consider filing an extension to file you’re your tax return.  This TurboTax link How do I file an IRS extension (Form 4868) in TurboTax Online? will assist you in filing an extension.

 

IRS extensions for tax year 2021 must be filed on or before April 18, 2022 for domestic taxpayers.

Keep in mind: An extension doesn't give you extra time to pay your taxes — but it will keep you from getting a late filing penalty

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