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dreamy_angel_19
New Member

I did not pay for points the seller did but it is on my 1098 do i put this in?

 
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Marketstar
Level 7

I did not pay for points the seller did but it is on my 1098 do i put this in?

The buyer may deduct points paid by the seller, provided the buyer subtracts the amount from the basis or cost of the residence (when the property is sold).

See Home Mortgage Points: https://www.irs.gov/taxtopics/tc504

So, you can deduct points in the following area:

·        Type mortgage interest in the search box, top right of screen, hit Enter key

·        Click the jump to mortgage interest link in the search results

·        Follow to prompts and online instructions



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