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Tax Deductions

Tax deductions are one of the top incentives for buying a home.

Owning a home can pay off at tax time!


  1. Mortgage Interest Deduction

Interest you pay on a mortgage is deductible when you use the loan to buy, build or improve on your home.

  1. PMI

You can deduct the cost of private mortgage insurance (PMI) as mortgage interest.

  1. Prepaid Interest Deduction

Prepaid interest (or points) you paid when you obtain a mortgage is usually 100% deductible in the year you paid it along with the other mortgage interest.

  1. Property Tax Deduction

The real estate property taxes paid are deductible.

  1. Energy-Efficient Upgrades

If you made your home more energy efficient, you might qualify for the residential energy tax credit.

This blog post provides general information about tax deductions, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Please consult a tax professional for such advice; tax laws may vary by jurisdiction.

If you have any questions or would like to an initial consultation to review your home goals, please contact Joan Bang at (213) 675-3289 or by email at Joan.Bang@dilbeck.com.

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Joan Bang, GRI
Real Estate Consultant
Dre# 01747112
Cell: (213) 675-3289

Dilbeck Realtors
1499 Huntington Drive #100
South Pasadena, CA 91030

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