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Tax Year Prior to 2020: On my closing disclosure under loan costs Section A there are loan origination fees expressed as a percentage. Are these deductible if they did not appear on 1098?
It has two subsets Application Fee and Origination Fee
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Deductions & credits
Yes. It is deductible. You can deduct any interest, property taxes, and most mortgage insurance premiums that are reported on the Form 1098 Mortgage Interest statement.
You can also deduct any interest or property taxes from the settlement statement that are not already reported on the Form 1098 and not "pre-paid" and held in escrow.
Additionally, you
can deduct qualified points paid on a mortgage and qualified mortgage insurance
premiums. (Points can also be called loan origination fees, maximum
loan charges, discount points, or loan discount.)
For a refinance, the points have to be spread out over the term of
the loan. The software will prompt you to select that.
Where do I enter my 1098 mortgage interest statement?
https://ttlc.intuit.com/replies/4793767
Here's an alternate method to get there:
- Federal Taxes tab (Personal in the Home and Business Version
- Deductions and Credits
- Your Home
- Mortgage Interest and Refinancing (select Add a Lender if you have already entered one)