refinance my two family home

[huichen88112]

I refinance my 2 family home-lived in 1 unit and rented the other unit. I received 2 1098 this year, how can I deduct the closing costs and which closing costs are deductible (loan costs, recording fees, prepaid insurance premium, prepaid interest, property taxes, initial escrow payment at closing; these are the items listed on my closing cost details) ? Also, I paid $400 on the points of the new loan. 

thanks in advance!!

[AmyC]

This is a two part question, main home and rental house. Divided by whatever values each part represents. For example: Your main home may be worth twice the value of the rental to make 1/3 of the loan rental and 2/3 main.

Main home, deducted on sch A: 

• Interest
• Real estate taxes
• Points or loan origination fees
• PMI, private mortgage insurance

Rental home, deducted on sch E:

see What can I deduct when refinancing rental property?