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- Apr 18, 2004
Unfortunately if you didn't buy a house before 2010 the only credit that was available at that time expired. Obama instituted a very lucrative home buyers credit for around $10k if I can recall due to the housing market tanking in 2008. Now like the other guy stated it is your interest and real estate taxes which if you only had it for a couple of months might not be even higher than the standard deduction if you are married or HOH. But next year you should see a substantial difference in your taxes.Are there any tax credit for your first home?
Granted I've only made 4 payments on the mortgage, I was suprised my return barely changed. I entered all the tax info from my mortgage company and bank.