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posted Jun 4, 2019 8:58:22 PM

How do I know if I already deducted points from a refinance mortgage ?

Within the Settlement Statement (HUD-1) from my refinance mortgage, I see amounts on boxes 801, 802, and 803; can I consider the value on box 801 as a charge I can deduct?, also the value on box 802 is a positive one. Should I deduct the total shown on box 803? Thanks...

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Employee Tax Expert
Jun 4, 2019 8:58:24 PM

Points on a refinanced loan are amortized over the life of the loan. Enter the net amount of points you paid (line 803) in the Your Home section.

https://www.irs.gov/pub/irs-pdf/p936.pdf