topic Re: points deduction in Deductions & credits

points deduction

lehart306 — Tue, 21 Apr 2020 17:25:41 GMT

I have had a mortgage since 2015. I failed to claim a deduction for points because I did not realize that points could be called "origination charges", or something similar. Now my question is can i start deducting the origination charges now, three years later. If so can I claim all since 2015, or can I claim just for 2019.

Re: points deduction

Critter — Tue, 21 Apr 2020 17:32:35 GMT

Points are claimed only the year they are paid ... it is now too late to go back and amend a 2015 return.

Re: points deduction

lehart306 — Tue, 21 Apr 2020 18:00:16 GMT

I was afraid of that. Thanks.

Re: points deduction

Anonymous — Tue, 21 Apr 2020 18:55:53 GMT

should you refi, points on a refi must be amortized over the life of the loan.