Are you missing out on real estate tax breaks? As a homeowner, you can deduct much more than your mortgage interest at tax time. Use our list to ensure you’re up to date on Charlotte area homeowner tax breaks and minimize your tax bill.
There are three primary tax breaks that expired at the end of 2016:
– PMI – 2016 is the last year to write off PMI insurance.
– Mortgage Debt Forgiveness – 2016 marks the end of not having to claim forgiven debt as income.
– Certain “Going Green” write-offs.
While some of these expired in 2016, homeowners can still claim a few energy efficiency write-offs on future tax returns, which we’ve included on our list below.
expenditures will remain in effect through 12/31/2019 for North and South Carolina.
Tax professionals can help you stay up to date on the most current real estate tax laws. If you haven’t filed your taxes yet and you don’t have a tax professional on your side, Angie’s List offers a free subscription for you to find and compare tax professionals in your area.