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York and Lancaster Counties Rock Hill - Fort Mill - York - Tega Cay - Lancaster
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Old 11-13-2007, 04:55 PM
 
Location: York, SC
348 posts, read 1,362,306 times
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I have heard that the 1st tax return after closing on a home, you get a big refund, pretty much all your closing costs and interest.
Is this true or just a wives tale?
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Old 11-14-2007, 07:05 AM
 
Location: Fort Mill, SC (Charlotte 'burb)
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Not that I am aware of. The difference with owning a house and filing taxes is that you have that deduction of the house which makes a huge difference, so your tax return will be much more than usual, but I don't think it will over your closing costs. Also tax returns are dependent on so many factors like income, how many deductions you have withdrawn from your pay, etc.
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