Author Topic: Tax deductions related to home ownership  (Read 253 times)

FITortoise

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Tax deductions related to home ownership
« on: February 05, 2019, 10:28:05 PM »
A new homeowner, I wonder if you can share what tax deductions are available related to home ownership. Here are the main items that I have:
- Mortgage interest
- Real estate property taxes
- Energy efficient improvements

Points towards loan looks possibly deductible as well. Are there other major items to consider? Thank you all.

seattlecyclone

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Re: Tax deductions related to home ownership
« Reply #1 on: February 06, 2019, 10:59:43 AM »
I think that covers the big ones. Also any sales tax you pay on a new home or major addition/renovation to your existing home counts as a "specified item" that you can add on to the standard sales tax deduction if you choose to deduct your sales tax instead of state income tax.