Tax advantages to owning your home.

[flippinout]

One of the advantages to owning your home is that you can deduct the interest payments made through the year on your tax returns.

The interest on the home you are living in and one other home, as long as that home is not rented out, can be deducted by filing Schedule A (itemized deductions).

Real Estate taxes are also deductible on your tax return.

[flip_it_fast]

Thanks for the tips. Boy when tax time comes around thats when Uncle Sam hits us hard. The more we know about what we can deduct the better off we are!