What parts of my house payment can be claimed on my income taxes?
I bought a home earlier this year, so am I able to write off the following? interest paid, property taxes, and mortgage insurance? Thank you in advance for your help. by sarah.dudley333 from Electric City, Washington. Oct 20th 2015
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
Check with your accountant or if you use software (TurboTax), then it will break out what is a deduction and what is not.. Typically, interest, taxes and origination charges, but home owners insurance might not be.. and as far as being able to write off MI, it depends on your income and whether or not you itemize.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
Derick Condron (rightstartoregon)
#30 ranked lender in Oregon - 598 contributions
Best bet is to talk with a local accountant about what you can write off. They will have a better grasp of tax laws than a lender.
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