Are points paid on my refinance tax deductible?
Loan discount points that you paid on a refinance are generally not deductible in the year you pay them. However, if part or all of the funds are used to improve your main home, the portion attributable to that use is deductible provided that all the other requirements for deducting points is met. Points on a second home must be deducted rateably over the life of the loan.
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January 25th, 2008 at 3:47 pm
[...] or the seller’s funds at settlement, so long as they meet specific tests. If these items are paid on a refinance, they usually must be amortized over the period of the loan (for example, 1/360 for each month of a [...]