topic Can I deduct closing costs on a 2nd home? in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-closing-costs-on-a-2nd-home/01/443266#M56541 Tue, 04 Jun 2019 22:29:25 GMT richpatrie 2019-06-04T22:29:25Z Can I deduct closing costs on a 2nd home? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-closing-costs-on-a-2nd-home/01/443266#M56541 Tue, 04 Jun 2019 22:29:25 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-closing-costs-on-a-2nd-home/01/443266#M56541 richpatrie 2019-06-04T22:29:25Z The prepaid property taxes and prepaid interest are deduc... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/the-prepaid-property-taxes-and-prepaid-interest-are-deduc/01/443271#M56542 <P>The prepaid property taxes and prepaid interest are deductible for a second home.&nbsp; If you paid points for a second home, the points can only be deducted (amortized) over the life of the loan.</P><P>The remaining closing costs are not deductible however they should be added to the cost basis of the home.</P> Tue, 04 Jun 2019 22:29:26 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/the-prepaid-property-taxes-and-prepaid-interest-are-deduc/01/443271#M56542 KarenJ 2019-06-04T22:29:26Z Re: The prepaid property taxes and prepaid interest are deduc... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-the-prepaid-property-taxes-and-prepaid-interest-are-deduc/01/845205#M105421 <P>Where on the tax return would I enter the amount for amortized points (spread over the life of the loan) ?</P><P>&nbsp;</P> Sun, 25 Aug 2019 23:03:19 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-the-prepaid-property-taxes-and-prepaid-interest-are-deduc/01/845205#M105421 QuickElbows 2019-08-25T23:03:19Z