home tax deductions

The Scoop on Home Tax Deductions

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Are You Getting All the Home Tax Deductions You’re Entitled To? Owning a home can pay off at tax time if you know what home tax deductions you’re entitled to. Take advantage of these home ownership-related tax deductions and strategies to lower your tax bill: Mortgage Interest Deduction One of the neatest deductions itemizing homeowners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. (For more details on this and other deductions in this post, see IRS Publication 530.) To get the mortgage interest deduction, your mortgage must be secured by your home — …