New Homeowner Tax Benefits


 

 

 

 

 

 

 

 

 

 

 

 

 

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Tax season is here and so what will you be doing with your money that you get from your tax return?  Will you possibly be buying a home so that you can get some of these tax benefits?  I hope you will.  When you own a home, you save.  

When filing your taxes you can take deductions in the Schedule A.  

1. You can take a deduction for property tax

2.  You can take a deduction for mortgage interest.

3.  You can take a deduction for the MIP (mortgage insurance premium).

4.  After you sell your home after living in it for 2 of the 5 years leading up to the sale, you can exclude up to $250,000 or $500,000 for married couples on the profits from the sale.  Check with your professional tax advisor on all of the above.  A professional can help you find other deductions as well!  Laws are always changing so I never profess to be an expert on taxes and rules of taxes as they always change.  But, the benefits of owning, versus renting are so much better!  

Give me a call today if I can help you with any of your real estate needs!

Joan Patterson, B.A., G.R.I., Realtor, License #01431647

Keller Williams Realty

951-204-1864

http://www.inlandempirerealestate.kwrealty.com

I am a realtor in the Inland Empire and have almost 30 years combined experience to help you with your real estate needs. I am a certified short sale specialist, have my GRI, my B.A, and CLHMS (Certified Luxury Home Marketing Specialist) designations all of this combined with my many years of being out in the field I am one of the hardest working agents you will find. I look forward to helping you, so give me a call at 951-204-1864 or send me an email at calljoan4ahome@gmail.com Looking forward to meeting you!

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