Question

I’m moving to a new house what all is deductible. Am a w2 worker.

Forum|Forum|4 years ago
July 28, 2021
1 reply
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Will be moving in August what all is something I can use come tax time to help me get all my money back?

Congratulations on your new home purchase! Generally, you can deduct mortgage interest paid, real estate taxes paid, points paid, and mortgage insurance premiums. Here's a great link that addresses all these items:

https://turbotax.intuit.com/tax-tips/home-ownership/home-ownership-tax-deductions/L7nXpU8Xz

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N

NateTheGrEAt

Employee

Keep in mind that you can deduct the items Donna mentioned if you are itemizing deductions. You only benefit from itemized deductions if they are larger than your standard deduction. Since you are moving in the middle of the year, it is possible you won't have enough itemized deductions this year to benefit. In that case, your home purchase wouldn't make a difference on your tax return this year.

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