Giving you a line by line rundown isn't going to change anything. We don't know the circumstances, and although the form is supposed to be uniform, we can't guarantee that your bank prepared it correctly.
In general:
> Origination ChargeA. 02 - Origination FeeMight be deductible points even if not in the points line, IF it was a percentage of the loan amount, and if it was paid by you and not the seller and if it was not specified as going to other fees or services -- but that fact might be in other bank paperwork.
B. 05 Mortgage Insurance Paid in Cash (Already reported in 1098)B. 07 Upfront Mortgage Insurance Premium (Already reported in 1098) These are the same thing whether paid in cash or rolled into the mortgage balance. Deductible in 84 equal monthly installments, unless this was a VA loan in which case deductible in the year you close. Check the math on your 1098 to make sure these are correctly included and allocated.
F. 03 Prepaid Interest (Already reported in 1098)Deductible interest. Not always included in the 1098. Check your mortgage statement to be sure. F. 04 prepaid property taxes would also be deductible if you paid them.
Page 3 of that web site shows lines K08 and K09, property tax adjustments for items the seller paid in advance. You can deduct these adjustments as property taxes as if you paid them to the city or county.
All items under G (prepaid to escrow) are not deductible since they are your money until actually paid to someone else.
Everything else is part of the ultimate purchase price of the property (cost basis).
