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WSJ Your Money Briefing

How Owning a Home Can Help You Save on Taxes

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 18 February 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

Buying a home is a major investment for many Americans but there are ways to make it less taxing. Wall Street Journal reporter Ashlea Ebeling joins host Ariana Aspuru to discuss what homeowners should know to maximize their tax return.   Sign up for the WSJ's free Markets A.M. newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:27.9

slash UK slash AI for people. Here's your money briefing for Tuesday, February 18th. I'm

0:37.0

Mariana Aspuru for the Wall Street Journal.

0:43.3

When filing your taxes, it pays to be detailed. If you're a homeowner, finding tax breaks,

0:50.0

deductions, and credits that apply to you can help you get the most money back on your

0:55.4

2024 return. Well, tax software is going to walk you through it, but you need to keep the records.

1:01.7

So if you had the energy-efficient property that it's called, if you have the insulation, you need

1:07.5

the receipt from your contractor, and if you have a certain heat pump that was put in, you need to see from the HVAC company that it's a model that qualifies for the tax credit.

1:18.2

We'll talk with Wall Street Journal reporter Ashley Ebling about how your home can shelter you from taxes.

1:25.3

That's after the break.

1:42.2

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2:02.7

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2:12.0

Buying a home is one of the biggest investments for many Americans.

2:18.1

But there are ways to make it less taxing.

2:21.6

Wall Street Journal reporter Ashlea Ebling joins me.

2:24.7

Ashleya, how does the process of filing your taxes change when you own a home?

2:29.9

So basically, a home is a tax shelter, so to speak.

2:34.0

Taxpayers who itemized deductions instead of taking the standard deduction can So basically a home is a tax shelter, so to speak.

...

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