Hello, Are Origination Fees on Home Loans deductible in 2016? Thanks, Rob

Forum|Forum|7 years ago
June 1, 2019
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Best answer by MichaelL1

Yes loan origination fees are deductible as an itemized deduction on your return.

Origination fees are another form of interest, and are treated the same as points, regardless of whether they are calculated as a percentage of the loan, or simply assessed as a flat fee.

"The term “points” is used to describe certain charges paid, or treated as paid, by a borrower to obtain a home mortgage. Points also may be called loan origination fees, maximum loan charges, loan discount, or discount points." Source: page 5 of IRS Publication 530 https://www.irs.gov/pub/irs-pdf/p530.pdf

To enter mortgage interest (including points)

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Under Your Home
On Mortgage Interest, click on the start or update button
Answer the questions that you paid points.

MichaelL1Answer

Level 15

Yes loan origination fees are deductible as an itemized deduction on your return.

Origination fees are another form of interest, and are treated the same as points, regardless of whether they are calculated as a percentage of the loan, or simply assessed as a flat fee.

To enter mortgage interest (including points)