@GoneSailin74
I don’t know how TurboTax is supposed to track points in this situation, but the mortgage interview does not always work the way it’s expected to work. If I were you, I would document your situation in writing, and keep track of the points yourself, using a spreadsheet or other workbook.
if you had $4000 of points spread out over 360 months, that is $11.11 per month. Add up how many payments you made on the prior loan and determine the amount of points remaining. Then add the $5000 of new points, divide by the length of the new loan, and figure out your monthly points amount. When it comes to filing your tax return, there is an entry for quote points not reported on form 1098“ and you would enter the monthly figure multiplied by the number of months that you made payments. If you refinance again, with a different company in the future, you can roll up the remaining points at that time.
But I really think you should keep track yourself, and not rely on TurboTax being available to you for the next 10 or 20 or 30 years.
