Bought a House in Late 2024, First Mortgage Payment in 2025

Forum|Forum|1 year ago
January 18, 2025
1 reply
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My fiancee and I purchased a home in late November of 2024. Our first mortgage payment wasn't paid until January 1st, so nothing was paid in 2024. How do I handle this on our tax returns?

Additionally, we are both on the house, but I am the only one on the mortgage. How do I handle this on our tax returns?

xmasbaby0

Employee

Unless you prepaid any interest or property tax in 2024, there is nothing to enter about the house on your 2024 tax return. The "purchase " of a house is not entered---only mortgage interest, property tax paid, or loan origination points.

So----next year when you prepare a return for tax year 2025, you will deal with this. Post back then----will you be married by then?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Nicole101Author

Yes. Getting married in October 2025

xmasbaby0

Employee

@Nicole101 Best Wishes! When you prepare your 2025 return next year, you can enter the home owner amounts on your 2025 return. You will want to file a joint return for 2025. We can help you with that next year.