Buying a house
Varies
What Can I Write Off When Buying a House?
Short answer: In the year you buy, you can deduct mortgage points, your share of prorated property taxes, and mortgage interest if you itemize; most other closing costs go into the home's basis.
There's no federal credit just for buying.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
Buying a house
Varies
Individuals / Personal Taxes
In the year you buy, you can deduct mortgage points, your share of prorated property taxes, and mortgage interest if you itemize; most other closing costs go into the home's basis.
Business justification
In the year you buy, you can deduct mortgage points, your share of prorated property taxes, and mortgage interest if you itemize; most other closing costs go into the home's basis. There's no federal credit just for buying.
Category
- Personal Tax Deductions