New Home Purchase...

[daycarediva]

Any deductions on it? We do our own taxes after some horrible accountants. It is a second home (for the time being-unless we rent our current home for a significant monthly profit)

Best way to get the most money back?

[TomCopeland]

home deductions

Any deductions on it? We do our own taxes after some horrible accountants. It is a second home (for the time being-unless we rent our current home for a significant monthly profit)

Best way to get the most money back?

If you do child care in the home you live in you can deduct a portion of property tax, mortgage interest, house insurance, house repairs, utilities and home depreciation. Use IRS Form 8829 Expenses for Business Use of Your Home to claim these expenses. If you do child care in the home you don't live in you can claim 100% of those house expenses on Schedule C.