buy house with cash

Peyton900 · ‎January 26, 2022

Hello,

We purchased a home with cash (using wire transfer). How do we report this on our taxes?

I am not looking for deductions, just making sure to report the home purchase.

xmasbaby0 · ‎January 26, 2022

There is nothing to "report" about buying a home on your tax return. All you enter or "report" is property tax you paid in 2021 since you will not have any mortgage interest, loan origination fees or private mortgage insurance.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Cynthiad66 · ‎January 26, 2022

Purchasing a home is not a taxable event. Nothing to report except possibly real estate taxes that may have been paid at closing.

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buy house with cash