taxes? what did u get back your first full year?

this will be our first FULL year in the house with taxes... last year we were here for only 4 months... and had to pay...

what did everyone get back their first FULL year of owning a house...

hopefully we will get back a decent amount... to use when i am home on maternity leave

Re: taxes? what did u get back your first full year?

I don't remember the exact amount. It was a large amount, it paid for our wedding reception. We bought and closed in October 2000, so our first full year with tax return was in early 2002 for 2001's return.

Re: taxes? what did u get back your first full year?

Do you mean income tax? There are so many factors so it's hard to say- DH and I were in our house for half of '05 and we got a really nice refund. But we are both teachers and that got us a lot of write-offs- conferences, coursework, professional memberships, union dues, etc. I've always gotten a federal refund, even when I was renting.

Re: taxes? what did u get back your first full year?

i'm in the same boat as you. i bought in oct 2005 so this will be my first full year for taxes. i'm hoping its big!

Re: taxes? what did u get back your first full year?

The first year we owned our condo we got almost 6,000 back!

Don't know what will happen this time around, we have only been in our house 3 months. But we still own the condo.

Good luck!

Re: taxes? what did u get back your first full year?

I don't remember but even with 2 kids and a house, we have never gotten more than $3,000 back.

Re: taxes? what did u get back your first full year?

We got our first year back last year and it was hardly nothing with 1 child. I don't know why though? How do you guys get back so much? Thanks!

Re: taxes? what did u get back your first full year?

I don't know but I hope it's a lot! We closed 12/15 last year.

Re: taxes? what did u get back your first full year?

it totally depends on other factors, such as income, how much your mortgage is, your deductions, dependents, etc..

Re: taxes? what did u get back your first full year?

We didnt get back alot at all the first year. I think it was under $3k. I definitly wouldnt count on getting a lot of money back because you never know. I think we got the first year we filed with the house even though we were in for a few months. Their are definitly alot of factors involved.

Re: taxes? what did u get back your first full year?

We closed in September of 2005 and we only got back $1K last year. I've learned my lesson and am not expecting much - whatever we get will go into savings.

Re: taxes? what did u get back your first full year?

well last year we had only been paying for half theyear and we did pretty well ...so we'll see what this year brings

Message edited 12/31/2006 11:32:15 AM.

Re: taxes? what did u get back your first full year?

we got a nice refund last year and only had the house since Aug, so suspect a good sized refund is in order this year.

Re: taxes? what did u get back your first full year?

hard to say..everyone's situation is different. We got back more than previous years that we rented but not "that" much more that we said wow!!!

Re: taxes? what did u get back your first full year?

for those that got big returns--- did you adjust your claims in order to get less taken out per paycheck, or did you keep it the same to get a large amount back at tax time?