Sunday, December 2, 2018

Tax benefits of buying a new home in Dec 2018 or later and documents needed for that?

I understand I get to deduct mortgage interest, discount points paid to lower interest and property taxes on home. Our average gross income is 160K

1. What else can I claim to reduce my taxes?

2. Can cost of adding solar panels be deducted?

3. What documents would I need?

4. Will the lender issue me a receipt for paying for discount points?

5. Do I need to keep track how much I'm paying each month for loan principal and interest or will the lender send me something I can use during tax filing?

6. Anything else I should be aware for reducing my taxes?

Read more: https://allmortgage.net/forum/tax-benefits-of-buying-a-new-home-in-dec-2018-or-later.html