Bridge loan

[Jimbo1962]

I got a bridge loan to buy the house we wanted while our first house was being sold. Six months later after the first house sold, I refinance the bridge loan into a new mortgage. I paid points on that mortgage. Will I be able to deduct the points Entirely or do I have to deduct them? Overtime   

[DavidD66]

You have to deduct them ratably over the life of the loan.  According to IRS Publication 936 Generally, points you pay to refinance a mortgage aren't deductible in full in the year you pay them. This is true even if the new mortgage is secured by your main home.  There are multiple requirements for deducting points.  I suggest you review Publication 936 to make sure the points you paid are deductible.