What are the income tax advantages that come with owning a home ...

Question by Yuna : What are the income tax advantages that come with owning a home
My husband and I just closed on our house in September and I?ve been hearing all this stuff about how owning a home gives you a break on income taxes. We had rented up until then, claimed 0 allowances, and still ended up getting hardly any refund or actually paying. Homeowner friends of mine were getting back and were thousands in the same situation as us (no children, claiming 0). Can someone tell me what kind of credit we get for owning property? A Tax Professional?s opinion would be GREAT! Best answer:
Answer by

loveholio you can take a deduction
for the interest and points paid on your mortgage. So you can take a deduction for property taxes.

What do you think? Answer below!

Source: http://www.lovefinanceinfo.com/2012/03/what-are-the-income-tax-advantages-that-come-with-owning-a-home/?utm_source=rss&utm_medium=rss&utm_campaign=what-are-the-income-tax-advantages-that-come-with-owning-a-home

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