Your mortgage and your taxes

Taxes: Mortgages

The TDS Library



Don't Overlook Tax Break of Mortgage Points

Bankrate

If you have ever taken out a mortgage, you probably already know of the tax advantage provided by deducting your mortgage interest payments. But many homeowners overlook another tax break available for points paid to get a home loan. In some cases, points also could shave tax bills for folks who refinanced or got an equity loan or line of credit.

Cut Taxes with Early Mortgage Payment

Bankrate

A little year-end attention to your mortgage payment could lower your upcoming Internal Revenue Service bill. That means your Jan. 1 mortgage statement represents interest for the month of December, making it a tax-break-eligible bill for this year. By accelerating that payment even by just a day, you get an additional tax deduction for the interest paid.


Can We Take a Tax Write-Off If We Sell Our Home at a Loss?

Bankrate

If you sell your home at a big loss, will the IRS be as unkind as the market?

Is mortgage payment help taxable? - The IRS taxes mortgage payments made by your insurer, but you can still deduct interest.

Get your biggest tax refund. Start free at TurboTax


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