 TITLE: How to Save Money as a Homeowner CONTENT: Look Into Tax Benefits\n----------------------\nOwning a home can have tax benefits that some homeowners may ignore or may not even be aware of.\nOne of them is the mortgage interest tax deduction. Typically, you can deduct the annual interest you pay on a mortgage if you itemize deductions on your federal tax return. Eligibility for the deduction depends on the dollar amount of your mortgage and when you bought your home.\nYou also may be able to claim a deduction on your federal tax return for state and local property taxes paid on your home.\nIf you installed a residential solar energy system, you can qualify for an additional tax credit. The credit allows you to deduct 26% of the cost of installing solar for residential projects that begin installation through 2022, then steps down to 22% for projects that begin in 2023. As it stands now, the residential credit vanishes in 2024. END