@KathrynG3, I looked a little further into this and found publication 936. It includes the following statement:
"No deduction is allowed for the unamortized balance if the mortgage is satisfied before its term."
I take this to mean that for 2020, I can deduct a portion of the MIP for the first three months of 2020 since my refinance closed at the end of March. From that point on, I assume that the mortgage has been "satisfied before its term" and so I cannot deduct any of the remaining MIP.
As for the new mortgage, I assume that at least for tax year 2020, I can deduct the MIP paid on this mortgage according to the rules laid out in publication 936.
Assuming all this is correct, I do have one additional question. My refinance closed on March 30 and I believe my first payment was in May. Can I deduct starting in March or do I need to wait until May?
