Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when you file your 2017 return. But under the Tax Cuts and Jobs Act, your home-related breaks may not be as valuable when you file your 2018 return next year.
Category: home equity debt interest deduction
Saving tax with home-related deductions and exclusions
Currently, home ownership comes with many tax-saving opportunities. If you haven’t already considered both deductions and exclusions for your 2016 tax return, do so when you’re tax planning for 2017: