Average Tax Return: After Buying House 2017

For the 2017 tax year, the average individual tax refund was .

While buying a home in 2017 did not trigger an automatic flat-rate refund, it significantly increased the likelihood of a higher-than-average return for taxpayers who their deductions. Key Tax Benefits for 2017 Homebuyers average tax return after buying house 2017

Homeowners could deduct specific expenses from their taxable income if these costs, combined with other deductions, exceeded the 2017 standard deduction ($6,350 for singles; $12,700 for married filing jointly). For the 2017 tax year, the average individual tax refund was

: If you paid "points" (prepaid interest) to lower your rate, these were typically fully deductible in 2017 if they were for a primary residence. : If you paid "points" (prepaid interest) to

What are the tax benefits of homeownership? | Tax Policy Center

: State and local property taxes paid in 2017 were fully deductible without the $10,000 "SALT" cap that was introduced in later years.