<prompt> Human: We bought a house at the end of November and our first mortgage payment was due January 1st. Our down payment and closing costs were payed in November. We got a conventional loan with 5 down so we will have PMI for a few years till we reach the 20 mark. What if any credits will be able to claim? Were in Texas if that matters.  <response>: You should be getting a statement from the lender with interest and points paid. Mine came in the mail yesterday, its Form 1098.Im not sure whether your share of property taxes are deductible, but I believe they are not. Your share of property taxes are deductible:Its probably worth your time to read through all of Publication 530 PDFFor both of those, though, it only helps if you itemize. So unless you had a lot of charitable donations, income tax in other states, medical bills, or other deductible things, youre probably better off taking the standard deduction and itemize starting next year if at all. 