I could not itemize in 2013 and had to take the standard deduction in 2013. For 2016 Turbotax program with itemized deductions, is giving me an option to add this origination fee in now though it was paid in 2013. I thought this ship had sailed.
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No. The loan origination fees paid in 2013 are required to be deducted on that tax return. You are not allowed to carry them over to another tax year to deduct them if you were unable to use them in the past because your itemized deductions were not high enough.
No. The loan origination fees paid in 2013 are required to be deducted on that tax return. You are not allowed to carry them over to another tax year to deduct them if you were unable to use them in the past because your itemized deductions were not high enough.
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