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3 Tax Breaks for Homeowners

Source: fool.com - Jan 19, 2018

If you own your home, you may qualify for several special tax breaks. Claiming these tax breaks can be an awfully helpful way to counterbalance the additional expenses involved in homeownership. Let's look at three tax breaks for homeowners and how to qualify and claim them.

Before we get started, however, keep in mind that all three of these deductions are itemized. That means you can't claim them unless you forgo the standard deduction, which has been nearly doubled by the recently passed Tax Cuts and Jobs Act. Therefore you should figure out how much money they can save you and only claim them if that amount exceeds the standard deduction you're eligible for.

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Category: General Business