What home buying expenses are tax deductible? Or are there any?

Profile picture for Loves LA
Are FHA-required repairs, or the inspections, or any of my closing costs? Moving expenses? Thanks
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September 04 2009 - Los Angeles
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Answers (1)

Profile picture for wetdawgs
Moving expenses may be deductible if you are moving for employment with the new job 50 miles further from your old home than the old job.  See irs statement.    If you are moving between a rental and a owned house, or in the same community then the moving expenses are not tax deductions.

IRS publication 530 gives details on what things you can deduct as a homeowner (including details related to closing cots etc).  (no, you cannot deduct repairs.)
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September 04 2009
 

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