I purchased a home in 11/2003. It was financed using an 80%/10%/10%
(1st loan/2nd loan/down payment) format.
The first loan was a conventional 30-year fixed. The second was a 15-
year balloon loan. Both were provided by the same lender. The first
payment was not due until 1/1/2004.The loans were resold
to separate lenders on March 10, 2004 (10% loan) and April 1, 2004
Here at links to some images of my HUD-1:
Looking at my HUD-1 (page 1 lines 207, 208) it appears that I was
charged a 1% lender discount credit for each of the loans. I take that
to mean I paid points. It was probably explained to me
5 years ago, but I don't remember.
There was also a 1% origination fee on each of the loans (page 2 lines
801, 805), but that seems to be the typical origination fee, and not a
code word for points.
The 1% discount credit for each of the loans seems to have been rolled
into the amount that I borrowed over the entire life of the loans. I
recently learned about discount points and that
they are normally tax deductible either in full in the same year of
the purchase, or over the life of the loan(s).
I just refinanced my home in Feb of this year. I would like to try to
get back as much as possible for the interest I paid on the 1% point.
I seem to meet all of the requirements for the
both the Deduction Allowed Ratably and Deduction Allowed in Year Paid
, p. 5).
It also looks like I only had up to 3 years to file a 1040x
to claim the fullamount in tax year 2003.
1) Is that correct, or is there still a way for me to claim the full
2) If not, would I need to file separate addendums for past tax years
to get a 12 month deduction for the 2005, 2006, 2007 and 2008 tax
years? Again, based on the 3 year rule, I may be out of
luck for amending tax year 2004.
3) It would seem that I would still be eligible to claim all of the
(remaining) points in tax year 2009 ,,id9734,00.html), is that correct? That seems like the mostpainless way to recover all/most of the money.
Looking at my 1098s from 2003, I see that Box 2 is empty. Box 2 has
been empty on every subsequent 1098 including those provided by the
original lender and the new lenders.
4) Is that cause for concern? Is my copy of the HUD-1 sufficient proof
that I paid points on the loans?
- posted 11 years ago