You might have an unrealistic expectation of what you can deduct for a refinance. You can deduct the same things you could deduct for a new mortgage: Property tax, mortgage interest, and loan origination points. You cannot deduct fees such as closing costs, appraisals, inspections, title searches, etc .
https://ttlc.intuit.com/turbotax-support/en-us/help-article/homeowner-tax-credits-deductions/refinan...
https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/kinds-refinancing-costs-deduct/...
And...your itemized deductions have an effect on your tax due or refund ONLY if your itemized deductions exceed your standard deduction.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
