In the case of a refinance, your points are deducted over the life of the loan, as @bosso3 said. If you paid $6,000 in points and your mortgage is 30 years, you will be able to deduct about $200 per year for the points paid.
Points paid in a refinance must be deducted over the life of the loan. The only exception is if you refinanced and used a portion of the proceeds to improve your home. In that case, you can deduct the points in the year paid for that portion of the mortgage.
TurboTax will automatically calculate the correct deduction based on the points paid and the length of the loan.
