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Elizabeth L. Hamann
Elizabeth L. Hamann, Accounting/Cert Reg. Tax Pro
Category: Tax
Satisfied Customers: 61
Experience:  Over 25 years exp. Personal and Small Bus. Accounting/Taxes. Spec. in Construction Trades
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what can i write off my income taxes we just bought a house

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What can I write off my income taxes we just bought a house in Aug 2005?
What is deductable?

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Sparks, Nevada

You can write off home mortgage interest. You should receive an interest statement from the Mortgage Company showing how much interest that you have paid in during the year. You can also write off property taxes that were prepaid in escrow and also paid during the year. You can write off a portion of the points. To get a better understanding of what you can write off see IRS publication regarding allowable deductions for home purchases.

I hope that this information has helped.

Congratulations on your new home.
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