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
Maximize your return and learn more about deducting homeowner’s insurance premiums from your taxes with advice from the Tax Experts at H&R Block.
Not sure if you need to file taxes if you’re being claimed as a dependent on someone else’s returns? Let H&R Block help you determine what you should do.
If you have Marketplace health insurance, you need to report qualifying life events or risk affecting your coverage and tax credits. Learn more at H&R Block.
Need to attach documents to your e-filed return? Find out from the tax experts at H&R Block about how Form 8453 is used to e-file your return.