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mkatiyar81
New Member

I have loan origination fee mentioned in my closing cost of mortgage, but an equal lender's credit amount has beed deducted from overall. Can I still report as pay points

 
4 Replies
KarenL2
Level 5

I have loan origination fee mentioned in my closing cost of mortgage, but an equal lender's credit amount has beed deducted from overall. Can I still report as pay points

Yes.  It still qualifies to be deducted.  If you refinanced, it must be amortized over the term of the loan.

  • Federal Taxes tab (Personal in the Home and Business Version
  • Deductions and Credits
  • Your Home
  • Mortgage Interest and Refinancing (select Add a Lender if you have already entered one)


LingLing8
New Member

I have loan origination fee mentioned in my closing cost of mortgage, but an equal lender's credit amount has beed deducted from overall. Can I still report as pay points

But how do you report the lender's credit?  Where do you enter in Turbo Tax?
KarenL2
Level 5

I have loan origination fee mentioned in my closing cost of mortgage, but an equal lender's credit amount has beed deducted from overall. Can I still report as pay points

The lender's credit is not entered.  Only the total points are entered.
fanfare
Level 15

I have loan origination fee mentioned in my closing cost of mortgage, but an equal lender's credit amount has beed deducted from overall. Can I still report as pay points

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