Thank you. I am a bit confused about the part you refer to "purchased new", then "100% business use". Would you mind explaining this a bit further? The 100% business use is throwing me. The other question is how I am supposed to correct for my changing limitation. My original loan amount was for a mortgage that exceeds $1MM. The amount of the amortized points changes each year as the mortgage gets paid down. I have 4 of the refinanced mortgages and 3 are paid off, but I cannot write the points off because I used the same lender. There are so many moving parts I don't know how to report this correctly. I think the IRS does this, so people will just say forget it and just won't write off the points.
Thank you
