- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
No, not as a deduction on your current year return.
Points paid on a refinance are generally amortized over the life of the loan, not deducted in the current year and that should continue until the loan is paid in full.
When a loan is sold from one lender to another, the borrower doesn't generally have out-of-pocket closing costs again, the loan stays the same but it is just paid to a different lender. So, no, your points from the refinance were not paid off when your loan was sold to a different lender, and especially not paid off by you.
Please refer to the following link for additional information:
Can I deduct points on my cash out refinance
March 23, 2021
6:38 PM