Home Buying Expenses | Deductible

Interest on home equity loans is only deductible if the funds were used to buy, build, or substantially improve the home securing the loan.

: If you paid "discount points" to lower your interest rate, they are often fully deductible in the year you paid them, provided the loan is for your primary residence and meeting other IRS criteria. Nondeductible Closing Costs deductible home buying expenses

This limit applies to loans taken out after December 15, 2017. Interest on home equity loans is only deductible

Topic no. 504, Home mortgage points | Internal Revenue Service Topic no

: State and local real estate taxes (SALT) are deductible up to a combined total of $40,000 through 2028.

: You can deduct interest paid on up to $750,000 of mortgage debt ($375,000 if married filing separately) for a first or second home.