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We refinanced our home last year. Are any of these fees that

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We refinanced our home last...
We refinanced our home last year. Are any of these fees that we paid, tax deductible. If so, which ones?
Submitted: 7 years ago.Category: Tax
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2/1/2010
Tax Professional: RD, Certified Public Accountant (CPA) replied 7 years ago
RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8,784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Did you pay any points/origination fee on the refinance? If yes, than you can amortize these points over the life of the loan on Sch A (itemized deduction).

http://www.irs.gov/publications/p936/ar02.html#en_US_publink1000229936

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

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RD
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Category: Tax
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