Average Tax Return After Buying House 2017 May 2026

For the 2017 tax year, the average individual tax refund was .

: Taxpayers could deduct interest on up to $1 million in mortgage debt for homes purchased before December 16, 2017. This was one of the largest potential breaks; for someone in the 25% tax bracket, this effectively meant the government "paid" 25% of their interest. average tax return after buying house 2017

: State and local property taxes paid in 2017 were fully deductible without the $10,000 "SALT" cap that was introduced in later years. For the 2017 tax year, the average individual tax refund was