Purchasing a home is an extraordinarily expensive process, especially once you add up the down payment, closing costs, and potential relocation expenses. And once you’ve acquired the home, you still need to consider the ongoing taxes, mortgage payments, and associated costs like HOA fees, insurance, and home maintenance costs.

Many people understandably wonder what costs and expenses could be tax-deductible and what additional taxes they may need to pay as part of the homebuying and ownership process. 

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