Tax Breaks for Homeowners

Tax day is always looming. The good news: If you’re a homeowner, you may qualify for significant tax benefits on what you owe Uncle Sam.


We have provided links below to some information about tax advantages that may benefit you as a homeowner. Of course, because restrictions and limitations apply, it is important to consult with your tax advisor for complete details.


To learn more about whether the interest you pay on your home loan may be deducted, review IRS Publication 936Home Mortgage Interest Deduction.

Mortgage Insurance Premiums

To learn more about the conditions under which mortgage insurance premiums may be deducted, review IRS Publication 530Tax Information for Homeowners, and Publication 936Home Mortgage Interest Deduction.

Property (Real Estate) Taxes

To learn more about the destructibility of the property taxes on your home, review IRS Publication 530Tax Information for Homeowners.


If you’ve made certain updates that improve your home’s energy efficiency, you may be eligible for tax credits or deductions.

To learn more about state and federal tax breaks related to energy efficiency, visit and

There’s More

There may be other tax advantages as well. For example, if you have expenses related to running a home-based business, if you relocated for work, or if you have home-related property losses, then you may have additional opportunities to lower your tax bill. The IRS Publications provide information about these and other possible tax advantages.

Remember to consult with your tax advisor to make sure you are applying your deductions correctly and aren’t missing out on any potential deductions.

Sources and more information:

  1. Internal Revenue Service (IRS) website,
  2. “Federal Tax Credits for Energy Efficiency,” ENERGY STAR,
  3. The Tax Incentives Assistance Project,

The information contained in this article is intended for general educational purposes only and is not to be construed as legal, tax, or financial advice. Please consult with your own legal, tax or financial advisor for guidance with your own particular circumstances.

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