ThomasM125
Expert Alumni

Deductions & credits

The program is basically asking for the amount of the loan that was used for purposes associated with the house. In other words, if you borrowed $100,000 and used $5,000 of it to pay off credit cards or for other purposes not related to the house, and the rest was used to pay off the mortgage you are refinancing,  then you would enter $95,000 for the amount used to purchase, remodel or repair the property.

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