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Purchased a new home and paid points. Mortgage company sold the mortgage to a second mortgage company. Points should be deducted fully, not amortized. Program help?
When I enter the first 1098, answer all questions correctly, the points are amortized. They should be fully deducted. There is an error in the program or I am not finding the work around. Answered for original mtge: Not latest, not refinanced, primary residence. For 2nd mortgage (original loan sold to 2nd) not a refinance, most recent, primary residence. It does not show the points as fully deductible. Please help.
‎February 20, 2025
8:06 AM