Deductible Home Buying Expenses -

Check your settlement statement for any pro-rated property taxes you reimbursed to the seller at closing; these are often deductible even if they aren't on your Form 1098.

This cap is reduced to $20,000 for those who are married and filing separately. deductible home buying expenses

: If you paid "discount points" to lower your interest rate, they are often fully deductible in the year you paid them, provided the loan is for your primary residence and meeting other IRS criteria. Nondeductible Closing Costs Check your settlement statement for any pro-rated property

The Internal Revenue Service (IRS) identifies three major categories of homeownership expenses that you can typically deduct: 2017. Topic no. 504

This limit applies to loans taken out after December 15, 2017.

Topic no. 504, Home mortgage points | Internal Revenue Service