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whitfieldd50
New Member

Can I deduct origination fees rolled into my new refinanced mortgage?

 
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Accepted Solutions
MinhT
Expert Alumni

Can I deduct origination fees rolled into my new refinanced mortgage?

Points (or origination fees) on a refinanced mortgage loan cannot be deducted in the year they were paid.

They must be amortized over the life of the loan. If the loan is for say, 10 years, you deduct 10% of the amount each year for 10 years.

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1 Reply
MinhT
Expert Alumni

Can I deduct origination fees rolled into my new refinanced mortgage?

Points (or origination fees) on a refinanced mortgage loan cannot be deducted in the year they were paid.

They must be amortized over the life of the loan. If the loan is for say, 10 years, you deduct 10% of the amount each year for 10 years.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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