Tax Changes with Home Mortgages

One benefit of owning your own home is the ability to write off the interest paid on your mortgage when filing your taxes.  You can still do this even with the changes in tax law due to the Tax Cut and Jobs Act of 2018.  There have been some crutial changes to deduction limits however. Read more about the mortgage interest deduction.

There are other tax issues related to home ownership that you may want to familiarize yourself with; such as:

  • Standard deduction has doubled
  • Property taxes
  • Tax credits