I BOUGHT A HOME LAST YEAR BUT MY TAX REFUND IS LESS THIS YEAR WHY??

[Coleen3 · Accepted solution]

Buying a home is not a guarantee of greater deductions, especially the first year. Your itemized deductions, including mortgage interest and property taxes must be more than your standard deduction to benefit you. Sometimes, without an entire year of these expenses, they will not beat the one the IRS gives you automatically.