You'll need to sign in or create an account to connect with an expert.
No, you don't get any money back on your taxes for buying a newer, more expensive home.
However, you can deduct Mortgage Interest, Property Tax and Mortgage Insurance.
Congratulations on the new home, though!
Here's more info on New Home Purchase.
You could get money back if you now have a large mortgage and thus paid more than anticipated interest during the year along with real estate taxes possibly paid on both properties. but the houses themselves offer no tax deduction.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
jrbigbaby
New Member
briandelany5890
New Member
955enokrad
New Member
carlcam
Returning Member
bigjames1982
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.