Will be moving in August what all is something I can use come tax time to help me get all my money back?
You'll need to sign in or create an account to connect with an expert.
Congratulations on your new home purchase! Generally, you can deduct mortgage interest paid, real estate taxes paid, points paid, and mortgage insurance premiums. Here's a great link that addresses all these items:
https://turbotax.intuit.com/tax-tips/home-ownership/home-ownership-tax-deductions/L7nXpU8Xz
Keep in mind that you can deduct the items Donna mentioned if you are itemizing deductions. You only benefit from itemized deductions if they are larger than your standard deduction. Since you are moving in the middle of the year, it is possible you won't have enough itemized deductions this year to benefit. In that case, your home purchase wouldn't make a difference on your tax return this year.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Kevinjjfr
Level 2
crossmack36
New Member
jdk2729
New Member
eric22cc
Level 1
lesliekosier
New Member