Deductible Home Buying Expenses 〈CERTIFIED ✦〉

This limit applies to loans taken out after December 15, 2017.

Check your settlement statement for any pro-rated property taxes you reimbursed to the seller at closing; these are often deductible even if they aren't on your Form 1098. deductible home buying expenses

Understanding Your Deductible Home Buying Expenses Buying a home is one of the largest financial commitments you'll make, but it also opens the door to significant tax advantages. While many of your upfront closing costs are non-deductible in the year you purchase, several key expenses can lower your tax bill if you choose to rather than take the standard deduction. Primary Deductible Expenses This limit applies to loans taken out after

: State and local real estate taxes (SALT) are deductible up to a combined total of $40,000 through 2028. While many of your upfront closing costs are