Buying A House Tax Return May 2026

First-Time Home Buyer Tax Credits 2026: Deductions & Savings

: 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. buying a house tax return

To claim most homeownership-related tax breaks, you must on Schedule A of Form 1040 instead of taking the standard deduction. For the 2026 tax year, the standard deduction amounts are: Married Filing Jointly : $32,200 Single / Married Filing Separately : $16,100 Head of Household : $24,150 First-Time Home Buyer Tax Credits 2026: Deductions &