I purchased a primary home in 2023 and paid points to lower the interest rate and origination fees. When entering these amounts in TT, it says that points if you purchased your home in 2023 then we'll deduct all the points on your current tax return rather than amortize them.
However, once I input the numbers, it DOES amortize them and only gives me $28 deduction. This is not a second home nor a HELOC. I sold my previous primary residence 6 weeks after buying the new house - both were primary residences.
I paid some mortgage interest at closing to cover that month. The loan was immediately sold to another lender so my first full mortgage payment was to the new lender.
Why is it amortizing the points and how do I get it write off the full amount this year?
