Skip to main content
Level 2
June 1, 2019
Question

Va refinance deductions

  • June 1, 2019
  • 1 reply
  • 9 views
I refinanced with a VA streamline program and I paid nothing out-of-pocket however there are many closing costs paid on my behalf in the closing documents. I'm wondering if any of these are deductible

1 reply

MargaretL
Level 12
June 1, 2019

The only closing costs that you can deduct on refinancing your home are points (also called prepaid interest), real estate taxes, qualified mortgage interest and mortgage insurance premiums.

Other costs, such as appraisal fees, inspection costs, legal, recording fees are not tax deductible (they are deductible for rental properties).

More information:

https://turbotax.intuit.com/tax-tools/tax-tips/Rental-Property/Mortgage-Refinance-Tax-Deductions/INF...

Level 2
June 1, 2019
even tho i did not pay anything out of pocket these are still deductible?