cancel
Showing results for 
Search instead for 
Did you mean: 
dinur
New Member

Not all Mortgage Points are deducted for a home purchased in 2020. Why?

On our 1098 form, it is written in box 6, we paid $1117 points.

In your Tax Guidance it is written "Note: If you purchased your home in 2020 or refinanced it to make improvements, we'll deduct all of your points on your current tax return rather than amortize them over the life of the loan." We purchased our home in 2020. The mortgage is for 30 years starting in 2020. However, instead of getting all the points deducted, TurboTax is getting only $37 deducted. Why?

1 Reply
AmyC
Expert Alumni

Not all Mortgage Points are deducted for a home purchased in 2020. Why?

Something in your entry. You can add the points to the mortgage total and skip the points section. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Privacy Settings
v