From Property Taxes to HOA Fee Deductions, 7 Last Minute Homeowner Tax Questions Answered by Expert Adviser 

With less than two weeks left to file taxes, some homeowners are scrambling to get their paperwork together before April 15. 

With many reports suggesting that refunds are much higher this year given the Trump administration's new changes, it would be advantageous to file quickly and enjoy a potentially sizable refund. 

If you’ve waited until the last minute, you might have some lingering questions about what you can and cannot claim this year. Katrina Martin, a tax strategist and founder of Wow Tax & Advisory Services and WealthFlow365, a tax and wealth advisory program built for business owners and real estate investors, spoke with Realtor.com® to answer some of the most pressing questions. 

Question 1: Can I deduct my solar panel purchase?

If you purchased and installed solar panels in 2025, Martin confirmed you can still claim the Residential Clean Energy Credit, which allows you to deduct 30% of the cost of your solar electric system from your federal taxes and notes there are “even more savings if purchased for a business with bonus depreciation.” 

However, under the One Big, Beautiful Bill, this credit has been phased out for homeowner-owned systems purchased after Dec. 31, 2025. 

Question 2: How much mortgage interest can I deduct?

When looking at your mortgage interest, you first have to look at how you’re filing your taxes.

“If you itemize, you can deduct up to $750,000 of mortgage debt for loans on your personal residence that originated after 2017,” explains Martin. "If originated before 2017 the cap is $1 million. However, there is no limit on deductible mortgage interest for rental properties.”

Question 3: Can I deduct my property taxes?

Martin explains that you can deduct your personal property and rental property taxes each year.

“On your personal property you will need to exceed the standard deduction limits,” she adds. Given the changes last year, doing so has become easier for some homeowners. 

The SALT (state and local tax) deduction limit cap has been significantly increased to $40,000 (up from the previous $10,000). This is a major win for homeowners in high-tax states like New Jersey.

Additionally, you can deduct a portion “if you have a home office for your business,” says Martin. 

Question 4: Can I deduct my HOA fees?

Generally, no. If the home is your primary residence, HOA fees are considered a personal living expense and are not deductible.

But Martin notes there are exceptions.

“If you have rental properties, you can fully deduct HOA fees,” she explains. “If you have a home office for your business, you can deduct the business-use percentage of your HOA fees, if you use the actual expenses method.”

Question 5: Can I retroactively add funds to my retirement accounts—401(k)s or IRAs—for 2025? If so, can I contribute to both?

If you held off on contributing to your retirement accounts to pay off bills and other expenses, there is still time in certain circumstances. 

• IRA (traditional or Roth): Yes. You have until April 15, 2026, to contribute for the 2025 tax year. The limit is $7,000 ($8,000 if you're 50-plus).
• 401(k): No. Unlike IRAs, 401(k) contributions must generally be made via payroll deduction by Dec. 31 of the tax year.
• Can you do both? Yes, you can contribute to both a 401(k) and an IRA in the same year, though your income level may limit whether your traditional IRA contribution is tax-deductible.

But the trick is, you need to be mindful of how much money you’re putting into each of these accounts and the limits. 

“If you contribute anything to a 401(k), you are considered an active participant in a retirement plan, which triggers MAGI [modified adjusted gross income] phase-out rules for a traditional IRA,” Martin explains. 

“However, Roth IRA contributions are only impacted by MAGI phase-out rules, not by active participation in a retirement plan. If income is too high for Roth directly, the backdoor Roth is an option.”

Question 6: Are there factors that might lead homeowners to receive a larger refund this year?

Because tax laws changed midyear, many employers' withholding tables didn't update immediately. This means you might have overpaid into the system throughout 2025, resulting in a larger check now.

Additionally, as mentioned, being able to deduct up to $40,000 in state and local taxes (instead of $10,000) allows many more homeowners to itemize and clear the standard deduction bar.

The average tax refund as of February 2026 is $3,742, according to the Internal Revenue Service. That's 10.6% higher than last year's average refund of $3,382.

However, with skyrocketing gas prices, those tax refunds could be quickly erased, according to a new study from economists at Stanford University.

Question 7: Do I have to file taxes by April 15?

Yes—and now. The federal tax filing deadline is Wednesday, April 15, 2026, but if you need more time, Martin reveals there are options. 

“You can file an extension by that date as well,” she says. 

“An extension gives you until Oct. 15 to file. However, if you owe taxes, it does not give you more time to pay; interest starts accruing on April 15.”