Six Little-Known Tax Tips for Home Buyers


You may have heard by now that if you purchased a home last year and had not owned a primary residence in the previous three years, you may be eligible to claim a deduction of 10 percent of the price of your new home, up to $8,000. Or, as a repeat buyer, you might be eligible for up to $6,500. But did you know that you won't qualify if you purchased your grandfather's home? Or that you might be able to deduct moving expenses?

HousingWatch talked to four experts about some of the tax laws and rules related to home purchases that you don't hear that much about. If you (or someone you know) have recently purchased a home or are thinking of doing so this tax season, you're going to want to read (or share) these tips!