6 Tax Breaks for Homeowners

Under the Tax Cuts and Jobs Act, which takes effect for tax filings for the 2018 calendar year, standard deduction increases will likely mean far fewer Americans will need to itemize their returns to receive the maximum amount of money back. If you currently own a home, are considering purchasing one or have made changes to your mortgage, it's important to know how your tax return may be affected. Here's a breakdown of tax breaks available to homeowners who itemize.