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Level 1

Question

Housing purchase points deductable?

Forum|Forum|6 years ago
February 27, 2020
2 replies
28 views

I bought a house in October of last year. My loan was almost immediately sold and i filed my taxes using the 1098 from the 2nd mortgage company not realizing there would be a huge difference. When I amended my taxes to reflect the differences there is no change in my refund. Am I not able to get any deductions for the points or insurance paid?

Not A Product Question

A

Anonymous

we can't see your amended return on this public forum. It could be that

your standard deduction is still higher than your itemized deductions or

you are in alternative minimum tax

you made some sort of error in preparing the amended return

you had nonrefundable tax credits that completely eliminate your tax liability

check the amended return against the original return to see if taxable income line 10 went down then compare the amounts on line 15

your only other choice is to pay a pro to review your return since I don't think live support handles 2018 returns.

Level 15

if this is property insurance, it is not tax deductible in any event.

the points get amortized over the life of the mortgage, so it would have little bearing on an amendment.

did you take the standard deduction or the itemized deduction?