Tax Deductible Home Expenses
The easiest and most accurate way to determine if any of your home expenses are tax deductible is to start a free tax return on efile.com. Based on your answers to the tax questions, we will select the right forms for your tax situation and report any home tax deductions you qualify for on your return.
Review the home-related expenses you can or cannot claim on your 2018 Tax Return if you itemize your deductions below:
Fire, flood, or homeowner insurance payments
Amounts paid to reduce your mortgage principal
General home improvements, repairs, maintenance expenses
No (unless you are active duty military
No (unless you are in a federally declared disaster area
No (unless you are a self-employed business owner
Keeping Records of My Home-Related Expenses
All records should be kept for 2018 and future Tax Returns. For instance, any home improvement costs can add up over the years, so it is a good idea to keep records for each year in case you receive an IRS notice requesting more information about your tax returns.
More Information on Tax Deductible Home Expenses
Other Tax Breaks
See tax deductions and tax credits you may qualify to claim on your tax return.