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New Member
posted Jun 1, 2019 6:26:02 AM

Moved to Texas Jan 2017, purchased a home and paid cash for it and the land. Can I put that purchase anywhere on my tax return?

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1 Best answer
New Member
Jun 1, 2019 6:26:03 AM

No. We don't typically report the purchase of a house or land. It's only when it's sold that your purchase becomes significant in your taxes.

However, as a buyer, you should report property taxes paid starting on the date of the sale although by itself, a partial year of property tax probably won't help, especially since you paid with cash and didn't take out a mortgage.

If you have any other details regarding this question, please feel free to post them in the comment section. 

1 Replies
New Member
Jun 1, 2019 6:26:03 AM

No. We don't typically report the purchase of a house or land. It's only when it's sold that your purchase becomes significant in your taxes.

However, as a buyer, you should report property taxes paid starting on the date of the sale although by itself, a partial year of property tax probably won't help, especially since you paid with cash and didn't take out a mortgage.

If you have any other details regarding this question, please feel free to post them in the comment section.