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mary-jo
Level 1

I refinanced a primary home in 2017. I had origination fees and points rolled into the loan. Do I only submit my two 1098s or do I enter the loan points to save tax $ too

Two 1098s--Old and new refi loan. Is everything always on mortgage interest statements or do I need to pull out my loan papers and look for deductions ?

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Accepted Solutions
KarenJ
Intuit Alumni

I refinanced a primary home in 2017. I had origination fees and points rolled into the loan. Do I only submit my two 1098s or do I enter the loan points to save tax $ too

Points paid during refinancing your home must be allocated over the life of the mortgage.  TurboTax will calculate this for you once you enter that the loan was a refinance of a mortgage on your primary home. 

As you owned the home all year, you should not need your loan papers to determine the amount of real estate tax you paid.

Other closing costs on a refinance  (title search, bank fees etc) are not deductible.

View solution in original post

1 Reply
KarenJ
Intuit Alumni

I refinanced a primary home in 2017. I had origination fees and points rolled into the loan. Do I only submit my two 1098s or do I enter the loan points to save tax $ too

Points paid during refinancing your home must be allocated over the life of the mortgage.  TurboTax will calculate this for you once you enter that the loan was a refinance of a mortgage on your primary home. 

As you owned the home all year, you should not need your loan papers to determine the amount of real estate tax you paid.

Other closing costs on a refinance  (title search, bank fees etc) are not deductible.

View solution in original post

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