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drmmiller
New Member

Can I deduct the VA Funding Fee I paid on the purchase of my new Primary Residence in 2018? If so, where/how do I make that entry? Thank you!

 
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DanaB
Expert Alumni

Can I deduct the VA Funding Fee I paid on the purchase of my new Primary Residence in 2018? If so, where/how do I make that entry? Thank you!

No, you cannot deduct VA Funding Fees. 

From Publication 936 (2018) page 7: Amounts charged by the lender for specific services connected to the loan aren't interest. Examples of these charges are: 

  • Appraisal fees, 
  • Department of Veterans Affairs (VA) funding fees, 
  • Mortgage insurance premiums, 
  • Notary fees, and 
  • Preparation costs for the mortgage note or deed of trust. 

You can't deduct these amounts as points either in the year paid or over the life of the mortgage

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1 Reply
DanaB
Expert Alumni

Can I deduct the VA Funding Fee I paid on the purchase of my new Primary Residence in 2018? If so, where/how do I make that entry? Thank you!

No, you cannot deduct VA Funding Fees. 

From Publication 936 (2018) page 7: Amounts charged by the lender for specific services connected to the loan aren't interest. Examples of these charges are: 

  • Appraisal fees, 
  • Department of Veterans Affairs (VA) funding fees, 
  • Mortgage insurance premiums, 
  • Notary fees, and 
  • Preparation costs for the mortgage note or deed of trust. 

You can't deduct these amounts as points either in the year paid or over the life of the mortgage

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