Tax Breaks for Homeowners

A huge benefit of being a homeowner is the ability to take advantage of a number of tax breaks. Check out the possibilities.

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Hopefully, part of the reason you decided to buy a home and stop renting is for the tax breaks. And there are quite a few of them!

Depending on your income level, you can deduct several expenses associated with owning a home, including mortgage interest, real estate taxes, private mortgage insurance (PMI) and any money you paid toward points or origination fees.

If you moved 50 miles or more for a new job, you can even deduct some of your expenses, such as the cost of packing, transporting or storing your household goods.

Remember to consult a tax professional about your particular situation.

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