I have refinanced my second home, in June last year. In reviewing the settlement statement, the origination and discount points (total $10,583.00) appears to have been financed in the loan amount. Is this why I have not received a Form 1098? If they were paid out from the loan amount can I still deduct the points over the life of the loan?
Thank you very much! Costa
If the points were paid from the proceeds, you MUST take them over the life of the loan. You cannot deduct them in full currently.
Yes, you deduct the points over the life of the loan unless you took extra money out for home improvement.
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