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crispy999
New Member

Just bought a new home. closed on the house in December. Can i use this to help with my taxes? if so how?

 
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1 Reply
DS30
New Member

Just bought a new home. closed on the house in December. Can i use this to help with my taxes? if so how?

When you buy a home, you don't get anything just for buying your home. However, you are able to include certain items related to your home on your tax return. If you itemize, you get to take such things as:

  • the interest that you pay on your mortgage
  • real estate taxes
  • mortgage Insurance
  • points

To enter your Property Taxes in TurboTax Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Deductions and Credits”
  3. Next click on "jump to full list" or “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Your Home”
  5. Choose "show more", then Property Taxes and follow the onscreen instructions

To enter your Mortgage Interest in TurboTax Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Deductions and Credits”
  3. Next click on "jump to full list" or “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Your Home”
  5. Choose "show more", then Mortgage Interest, Refinancing and Insurance and follow the onscreen instructions. You will need to enter the Mortgage lender's name and interest income.

To enter your Mortgage Insurance in TurboTax Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Deductions and Credits”
  3. Next click on "jump to full list" or “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Your Home”
  5. Choose "show more", then Mortgage Interest, Refinancing and Insurance and follow the onscreen instructions


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