| This is really a question
you should ask a local CPA or whoever does your taxes. We encourage
you to follow up with a professional tax advisor as we are not
qualified or authorized to give advice in two areas - legal matters
and tax matters.
Briefly put, providing you itemize
deductions, own and occupy the home, you can deduct both property
taxes paid on the home and interest paid on your mortgage. You can
deduct the points and prepaid interest you make during the actual
purchase, whether you pay them or the seller pays them on your behalf.
There are certain limits and
restrictions which do not affect most people, but this is another
reason you should contact a tax professional regarding your question. |
