Visitor II

Mortage Points paid on a refi

Do I have to amortize the points I paid refi'ng my primary mortgage. I paid the points in cash at the closing. However, it was not a refi with cash out let's say to do home improvements. Can I still deduct all the points paid on this return instead of amortizing them over the life of the loan?

1 Comment
TurboTax Specialist

Mortage Points paid on a refi

The general rule for refinances, is that they are amortized over the life of the loan unless loan proceeds were used for the improvement of your home.

 

Can I deduct mortgage points?