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I just baught a house 2015. Im filing my tax now. What can i

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claim for having a house...
I just baught a house 2015. Im filing my tax now. What can i claim for having a house
Submitted: 1 year ago.Category: Tax
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Answered in 5 minutes by:
10/10/2016
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,291
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi,

...

Mortgage interest and property taxes are the two most common.

...

Also, if you paid points to get a better rate, IRS lets you deduct points in the year you paid them.

...

If you use a portion of your home exclusively for business purposes, you may be able to deduct home costs related to that portion, such as a percentage of your insurance and repair costs, and depreciation.

...

Your INVESTMENT iN the house will create a tax benefit when you go to sel, as the purchase price (plus any improvements you make along the way) will create your tax basis in the property.

...

Please let me know if you have any questions at all.

...

And if you DON'T have other questions Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …would be appreciated!

Otherwise I receive no compensation for the work.

...

Thank you,

Lane

...

...

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986

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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,291
13,291 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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