Buying A House Tax Return [ CERTIFIED • 2026 ]

: You can deduct the interest paid on up to $750,000 of mortgage debt ($375,000 if married filing separately) for homes purchased after December 15, 2017. This cap was made permanent under recent tax law changes.

: If you paid "points" at closing to lower your interest rate, you can typically deduct the full amount in the year of purchase for a primary residence. buying a house tax return

: Available only to self-employed individuals, this allows you to deduct a portion of your home's expenses (utilities, insurance, etc.) based on the square footage used exclusively and regularly for business. Strategic Tax Credits : You can deduct the interest paid on