I refinanced in 2020 (primary mortgage and variable rate HELOC refinanced into a single fixed-rate mortgage with my existing lender).
I'm trying to ascertain whether either/both of the following are deductible:
- Mortgage Points Paid
- Mortgage Float Down Fee (allowed me to potentially get a lower rate if interest rates continued to fall during the closing process).
Neither of the above were reported on my Form 1098s.
If either/both are deductible, do I need to recognize/record over the life of the loan as opposed to all at once for this year's taxes?
Thank you.
