Tax Benefits of Home Ownership
Owning a home is one of the most powerful tax shelters available to the average American. We help you understand how your mortgage impacts your overall tax liability.
The Big Three Deductions
While we always recommend consulting with a CPA, here are the primary tax advantages most Wisconsin homeowners enjoy in 2026:
Mortgage Interest
You can typically deduct the interest paid on up to $750,000 of mortgage debt if you itemize.
Property Taxes
The SALT deduction allows you to deduct up to $10,000 in combined state and local taxes, including property taxes.
Closing Costs
Loan "points" paid during your purchase are often fully deductible in the year you buy the home.
Long-Term Capital Gains Benefits
One of the greatest tax benefits comes when you *sell* your home. Under current IRS rules, most homeowners can exclude up to $250,000 (single) or $500,000 (married)of profit from capital gains taxes, provided the home was your primary residence for two of the last five years.
This allows you to build significant wealth through home appreciation and keep almost all of it tax-free when you move — a benefit that doesn't exist with stocks or other investments.
Integrate Your Mortgage with Your Tax Strategy
Rob Miller doesn't just look at your loan; we look at your whole financial picture. We work alongside your tax professional to ensure your mortgage is structured to provide the maximum possible tax benefit for your unique situation.
Schedule a Strategic Consultation