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Can I spread out my VA funding Fee as a deduction the same way points can be spread out using the $Amount / 84 months equation?
Our loan closed on 30 Dec 2016 and our VA funding fee was $4400. I don't need the entire deduction this year due to my other charitable contributions, and would like to distribute the amount for future tax returns. Is there a specific equation I have to follow (VA Fee / 84mths (7yrs)) or am I able to use whatever amount I want up until $4400 and the 7 year mark?
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‎June 6, 2019
4:23 AM