TurboTax FAQ
TurboTax FAQ
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What tax breaks can I get for owning a home?

There are two big tax breaks that many homeowners qualify for. The first is for the interest you paid on your mortgage, called the mortgage interest deduction. The second, the property tax deduction, is for the property tax you paid to your state or local area. 

These tax breaks lower your taxable income and can decrease the amount of tax you owe.