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need some taxstrut advice

tripledoubletripledouble 7,636 Posts
edited October 2007 in Strut Central
anyone know what i can do on my taxes if i bought a house as a first time home owner?gotta be some kind of write offs,right?i got an extension in april and gotta get that shit in real soon(but ive been procrastinatiing)is there an acountant in the house?????

  Comments

  • BurnsBurns 2,227 Posts
    You will receive a tax write off for owning your house for the first five years on your mortgage's interest. You will also get a write off on your property taxes. This could be state by state tax code though.
  • JoeMojoJoeMojo 720 Posts
    You know about the mortgage interest deduction, right? That's the big one.

    You should have gotten a statement at the end of last year from your lender detailing how much interest versus principal you paid on your home loan. I think it's a form 1098.

    You can deduct all of the interest. Since you bought the place recently, that should be the majority of what you paid on the mortgage in 2006.
  • LaserWolfLaserWolf Portland Oregon 11,517 Posts
    My tax advice:
    Render on to Ceasar that which is Ceasar's.

    Congrats on the house.

    Get an accountant.
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