Buying A House Tax Return May 2026

: Reinstated for the 2026 tax year, PMI and FHA mortgage insurance premiums are once again treated as deductible mortgage interest for homeowners with a MAGI below $100,000.

: You can deduct the interest paid on up to $750,000 of mortgage debt ($375,000 if married filing separately) for homes purchased after December 15, 2017. This cap was made permanent under recent tax law changes. buying a house tax return

First-Time Home Buyer Tax Credits 2026: Deductions & Savings : Reinstated for the 2026 tax year, PMI

: If you paid "points" at closing to lower your interest rate, you can typically deduct the full amount in the year of purchase for a primary residence. 000 of mortgage debt ($375