Question

I am unsure how I owe 2,300$. I bought a house last year and was a first time home buyer I thought I would be getting money back

Forum|Forum|3 years ago
April 19, 2023
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TurboTax Deluxe Online

It's surprising, but there is little tax advantage to buying a house; most of the benefit is when you sell the house. Also, itemized deductions like mortgage interest are not a big deduction in the first year you buy the house, because the interest is charged monthly. In the second year, the interest covers a full year in the second year.

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