Homeowner Tax Question..

kittyke Posted: Jan 25, 2005 10:21 AM

Homeowner Tax Question..

did you see a big difference in your refund the 1st year in your new home? TIA.

Blu-ize Posted: Jan 25, 2005 11:54 AM

Re: Homeowner Tax Question..

There was a difference in the first year, but I wouldn't say tremendous. Lots of people did tell me differently though. It also depends on your write offs and if you did improvements.

StepherG Posted: Jan 25, 2005 01:46 PM

Re: Homeowner Tax Question..

Depends on when you purchased....earlier in the year, more taxes paid, more mortgage interest...more $$ in refund.

cloddy Posted: Jan 27, 2005 03:17 PM

Re: Homeowner Tax Question..

Not good for 1st year because we only paid a few months worth of mortgage pymts and had to borrow against some retirement plans which had a penalty. ... ugh. REally looking forward to this year's. Hope it lives up to expectations.

dengal Posted: Jan 27, 2005 11:55 PM

Re: Homeowner Tax Question..

It also depends on where you moved from. If this is the first year you are a homeowner, your refund should be higher. Assuming you weren't in your new home for the full 12 months of 2004, you should get a higher refund (I should really say a larger deduction) Next Year.