Understand the tax advantages of homeownership and how mortgage interest deductions can reduce your tax burden.
Tax laws are complex and change frequently. This information is for educational purposes only. Always consult with a qualified tax professional or CPA for advice specific to your situation.
You can deduct interest paid on mortgage debt used to buy, build, or substantially improve your qualified home.
Property taxes paid on your primary residence and vacation homes are deductible, subject to the SALT limit.
If you work from home, you may be able to deduct expenses for the business use of your home.
Discount points paid to reduce your interest rate may be deductible in the year you buy your home.
Itemize deductions when your total itemized deductions exceed the standard deduction.