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Can I deduct total closing costs for refinance of my primary home?

I refinanced in 2016.  the total closing costs I paid include origination charges, title and attorney fees, prepaid interest, property taxes & county taxes.  the fees are not on my 1098 form.
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1 Best answer

Accepted Solutions
MargaretL
Expert Alumni

Can I deduct total closing costs for refinance of my primary home?

No, you cannot deduct total closing costs, unfortunately - only certain items are allowed as a deduction. You can deduct prepaid interest (known as points), property taxes, county taxes and any mortgage interest. You cannot deduct administrative fees, such as origination charges, title, attorney fees, stamps etc. 

Data entry:

  1. Federal Taxes
  2. Deductions & Credits
  3. Your Home - select Mortgage Interest and then Property taxes

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1 Reply
MargaretL
Expert Alumni

Can I deduct total closing costs for refinance of my primary home?

No, you cannot deduct total closing costs, unfortunately - only certain items are allowed as a deduction. You can deduct prepaid interest (known as points), property taxes, county taxes and any mortgage interest. You cannot deduct administrative fees, such as origination charges, title, attorney fees, stamps etc. 

Data entry:

  1. Federal Taxes
  2. Deductions & Credits
  3. Your Home - select Mortgage Interest and then Property taxes

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