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Bought home with cash, no loan

Forum|Forum|6 years ago
June 1, 2019
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In 2015 I purchased a home with cash. I did not take a loan out to purchase the home. Therefore I have no mortgage payment. How do I claim this on my tax return?

TurboTax Online

Best answer by xmasbaby0

You can enter any property taxes that you paid in 2015 for the house. Otherwise, you have nothing else to enter for the home purchase if you had no mortgage interest in 2015. Other costs such as closing fees, etc. are not deductible.

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xmasbaby0Answer

You can enter any property taxes that you paid in 2015 for the house. Otherwise, you have nothing else to enter for the home purchase if you had no mortgage interest in 2015. Other costs such as closing fees, etc. are not deductible.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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marshall_fatima

Thats not fair that the new homeowners who paid home fully off with cash doesnt get the same tax break as the ones who have took loans!! And pay mortgage payments!!! So we get nothing for working hard and taking a chunk out of our bank accounts so we won't owe no one, and live comfortable knowing that its ours and not the banks!!! Sheesh