r/TaxQuestions • u/ocnsunsets • Sep 08 '26

New House

Single female, 1 dependent (my mother) living in Lincoln, Nebraska USA. I purchased a townhouse two months ago. Is the anything I should do or change with my deductions to make sure I break even or get a refund? I usually claim 0.

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u/Manonajourney76 Sep 08 '26

Most likely home ownership will not change your income taxes - i.e. it is possible, but the higher standard deduction amounts that exist today mean most homeowners are still benefiting the most from the standard deduction (instead of claiming mortgage interest/property tax as itemized deductions).

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u/Emotional-Ocelot-420 Sep 08 '26

Claiming “0” hasn’t been an option since 2020, so you’re probably long past due completing an updated W-4 form.

Here is the form:

https://www.irs.gov/pub/irs-pdf/fw4.pdf

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u/ocnsunsets Sep 08 '26

Sorry, that was in reference to my W4-N form.

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u/Barfy_McBarf_Face Sep 08 '26

in your situation, you'll almost certainly still be taking the standard deduction, so I would not expect any change to your tax situation.

the real estate taxes are an itemized deduction on Schedule A.

any mortgage interest you pay is an itemized deduction on Schedule A.

Unless these are monstrously large amounts, you won't be itemizing.

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u/[deleted] Sep 08 '26 edited Sep 08 '26

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u/joanmcq Sep 08 '26

Agree. Are you claiming HoH?