1098

American82686 — Fri, 29 Jan 2021 18:06:19 GMT

We refinance our home in 2020, the 1098 received did not show points paid, but the paperwork on closing costs show an origination/administration fee. Is this the same as points and deductible?

Re: 1098

HelenC12 — Fri, 29 Jan 2021 18:33:27 GMT

No, points are not the same as origination points. Origination points are not deductible on non-rental property.

See the TurboTax FAQ What are points?

In real estate, a point is an amount equal to 1% of the mortgage. A point on a $120,000 mortgage is worth $1,200, 2 points are worth $2,400 and so on.

Origination points are charged by lenders to cover loan processing costs. Sometimes they'll also include fees for appraisals, inspections, title, attorneys, notaries, and real estate taxes.

Related information:

Can I deduct mortgage points?
What kinds of refinancing costs can I deduct?
I refinanced my home, what can I deduct?

topic 1098 in Deductions & credits

1098

Re: 1098