What Home Buying Expenses Are Tax Deductible?

First things first, we are not accountants. For any kind of tax advice, please speak with your CPA. That being said, we are residential mortgage brokers in the state of Florida. We do fund many mortgages in the state and have spoken with many accountants & CPA's about the subject.

Our current understanding is that for a primary residence, mortgage interest and real estate taxes are tax deductible. For rentals, it really is going to depend. For businesses, it would be things like home office related items. However, with the standard deduction being so high nowadays, most people typically take the standard deduction.