I refinanced my 15-year mortgage (main home) in Apr 2020. I received two Form1098. The Settlement Statement showed “Loan Amt (Points)” = $5,400 but box 6 of Form 1098 = $0.
I entered the original 1098 first, I selected ‘yes, this is the original loan I used to buy or build my home’
- 2nd 1098, I selected ‘this is a refinance’. Can I deduct and amortize this Discount Points? Ex: $5,400 / 180 months = $30/month. First Payment = June so $30 x 7months = $210. Is this correct?
- I selected ‘I am spreading the points over the life of my loan(amortizing)’ but TT did not ask about my points
- 2nd 1098 only showed Real Estate Tax form June-Dec. The Settlement Statement listed RE from Jan-June, paid to County. Can I include RE tax from the Settlement ?
Thank you!
