I sold my home, what can I deduct?

If you sold a qualified home, you can make deductions up until the time you sold your home, which includes mortgage interest, points, and real estate/property taxes. You should be able to see these on the 1098 from your lender.

You can also deduct:

• Home improvement costs as an adjustment to the basis of the home you sold (which are more or less permanent changes to the house and not the same as repairs and maintenance)
• Mortgage interest and/or real estate/property taxes charged at closing
• Selling expenses to reduce your gain on the sale side of the home

Look at Selling Your Home by the IRS for more in-depth information.