You have to say you spread the points in 2022 to have the option to amortize them this year. Last year, when the loan was new, you had the option to deduct in full or amortize, and although you did neither because you did not itemize, you have to say you elected to spread them. If you say you deducted them all, there is nothing to amortize. But if in 2022, you elected to amortize, you get a small deduction each year. You got no advantage out of it last year, but this year you can. But you can't deduct all the points this year - that option was only available in 2022 when the loan was new. Now your only option is to amortize over the life of the loan - starting in 2022. This would be year 2 of amortization.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
