I purchased a house this year. Would I qualify for any tax deductions on a home purchase?
Unfortunately, most of the expenses you paid when buying your home are not deductible in the year of purchase.
The only tax deductions on a home purchase you may qualify for is the prepaid mortgage interest(points). To deduct prepaid mortgage interest (points) paid to the lender if you must meet these qualifications:
Whether you are paying for a college education or a teacher buying items for your classroom, education credits and deductions can help lower your tax bill.
The American Opportunity Credit, Lifetime Learning Credit or the Tuition and Fees Deduction may help offset the cost of higher education for you, your spouse and your dependents.
The Disaster Tax Relief and Airport and Airway Extension Act of 2017 was signed into law on September 29, 2017.
Highlights of the tax provisions providing relief for taxpayers affected by Hurricanes Harvey, Irma and Maria for 2017 federal tax returns:
You might qualify for this credit if either of these applies:
You’re age 65 or older.
You’re under age 65 and both of these apply: