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June 4, 2019
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I purchased a home in 2017. Do I get any tax breaks on my down payment, or other expenses related to my purchase?

  • June 4, 2019
  • 1 reply
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Best answer by Marketstar

You do not get a tax break for your down payment, but the following can be deducted:

·       Daily mortgage interest from the day you closed to the end of the month.  You will see this            on your closing document, but it may not be included on your 1098 mortgage statement.

·       Real estate taxes charged to you

·       Points (sometimes called origination fees and expressed as a percentage of the amount           borrowed

To enter the above:

·         Type mortgage interest in the search box, top right of your screen, hit the Enter key

·         Click the jump to mortgage interest link in the search results

·         Follow to prompts and online instructions

 

      

 


1 reply

Employee
June 4, 2019

You do not get a tax break for your down payment, but the following can be deducted:

·       Daily mortgage interest from the day you closed to the end of the month.  You will see this            on your closing document, but it may not be included on your 1098 mortgage statement.

·       Real estate taxes charged to you

·       Points (sometimes called origination fees and expressed as a percentage of the amount           borrowed

To enter the above:

·         Type mortgage interest in the search box, top right of your screen, hit the Enter key

·         Click the jump to mortgage interest link in the search results

·         Follow to prompts and online instructions