topic pay point deduction in Deductions & credits

pay point deduction

pdmanoj — Tue, 24 Feb 2026 04:37:43 GMT

I have paid points for the home loan in 2021 and have filed 2021 tax returns using standard deductions. Can I use the paid points in 2022 itemized tax filing

Re: pay point deduction

MinhT1 — Mon, 17 Apr 2023 17:43:12 GMT

No.

You cannot deduct the 2021 points in 2022.

Re: pay point deduction

pdmanoj — Mon, 17 Apr 2023 18:19:11 GMT

Thanks for the response. However, this the Question in the TurboTax and so I was confused whether to include the pay points in 2021

Did you pay points in 2021 when you took out the loan?

We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2021.

We've already deducted all the points we paid in 2021, or we didn't pay any points.

Re: pay point deduction

DawnC — Mon, 17 Apr 2023 18:38:54 GMT

If you amortized the life of the loan, then you would deduct a portion each year. However, if you deducted all points in 2021, there is nothing to deduct in future years. Did you deduct all the points or amortize them?

See Can I claim points? This covers purchases and refinancing as the rules for each are different.