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February 28, 2023
Question

Do i qualify for a tax credit on my home?

  • February 28, 2023
  • 1 reply
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Purchased hom in 2022. Do I qualify for tax credit?

1 reply

DMarkM1
February 28, 2023

It depends.  As far as credits go, if you made any energy saving upgrades such as doors, windows, insulation, roof, solar, new AC or furnace on your home, you may be eligible for home energy credits .   

 

 In the "Deductions and Credits" section scroll down to "Your Home" and "Show More."  There you will find the Home Energy Credits topic as well as topics to use for potential itemized deductions such as Mortgage Interest Paid (form 1098) and/or real estate property taxes paid.  

 

Click on the help links at the end of each item to see an overview of the potential credits or deductions related to homeownership and then start/revisit the topic to explore further and enter any information required to claim them.

 

Once you make your entries in the individual topic TurboTax will let you know whether using the standard deduction on itemized deductions work best for you.  You will also see a summary of all the deductions and credits you qualified for based on your entries.

 

Here is a link with more information on homeowner tax savings.  

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