Friday, October 5, 2018

Will I receive more in Federal tax return when I file in Spring 2019 now that I own a house? Can anyone

This is what really confuses me.closed on my house in December of last year, so technically we will have been in house for full 2018 (1/1/18 - 12/31/18) and mortgage interest + taxes will equal about $16,000. We're going to file jointly, married, collective net income of about $180,000. Everything else remaining the same as past years' returns, we usually receive about $3,000 from our Federal tax return. Now should we expect to receive a lot more back now that we have been in the house for a full year and paid a full year of mortgage interest & taxes? I'm just confused if it's going to be a little more than our normal amount (like when we used to rent, or if it will probably be a lot more. Live in NJ (if this matter)

Thanks so much for any clarity.

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