Your home is likely your largest investment and a source of significant tax benefits. For taxpayers who itemize, mortgage interest, real estate taxes, and mortgage insurance premiums on acquisition debt for a qualified residence are potential deductions. These benefits may even extend to a second residence, RV, or boat. Because limitations apply, please consult your CPA to determine which deductions from your home can provide you with the most important tax savings this year.
Article by Hailee Sage
Photography by Hailee Sage