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I close on a house on March 22. Should I wait to file for the tax credit or is it too late for this year's return?

Forum|Forum|7 years ago
June 3, 2019
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Best answer by Opus 17

There are no tax credits or first time home buyer benefits at the federal level. There is a mortgage credit certificate for low income buyers, that you must apply for in advance, and would be reported on your 2019 tax return. Any other deductions (mortgage interest, property taxes) are claimed when actually paid.

Carl11_2

Employee

March 22 of what year? What tax credit? There is no tax credit for buying a house.

S

SweetieJean

Employee

Some state credit? Anyway, a 2019 transaction cannot be claimed on a 2018 return.

O

Opus 17Answer

Employee

There are no tax credits or first time home buyer benefits at the federal level. There is a mortgage credit certificate for low income buyers, that you must apply for in advance, and would be reported on your 2019 tax return. Any other deductions (mortgage interest, property taxes) are claimed when actually paid.