I have a question about first time home buyer taxes. Is there a first time home buyer tax credit available?
As a first time homebuyer, tax credit is not necessarily available to you. However, as a first time homeowner taxes may reduced by itemizing your tax return. This is true even if you are not a first time homeowner. if you itemize, you can claim some deductions that are available to homeowners:
- Mortgage interest credit — if you were issued a mortgage credit certificate
- Mortgage interest deduction
- Real estate tax deduction
- Points paid to reduce your mortgage interest rate
- Qualified mortgage insurance premiums
Looking for information about your Arkansas refund? Find out details on how to check your Arkansas refund status, who to contact, and more from H&R Block.
If you are paying child support for your children, but they don't live with you, can you claim them as dependents? Get Tax Answers from H&R Block.
As a young adult or millennial, taxes may be a new responsibility. Learn more about common deductions & credits for young adults with H&R Block.
Looking for more information about your Indiana refund? Find out details on how to check your refund status, who to contact, and more from H&R Block.