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Home loans
Maybe. If you paid points. You can amortize the points over the life of the loan. See Topic No. 504 Home Mortgage Points - IRS.
Example:
You paid $3,000 i loan origination fees/ points
took out a 30 year mortgage
then claim $3,000/30 years = $100/ yr deductible
@Bsch4477 is correct that interest paid on money you took out for things other than to buy, build, or improve your home are not deductible. See About Publication 936, Home Mortgage Interest Deduction.
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March 24, 2022
10:01 AM
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