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averges2009
New Member

Is my VA funding fee claim as part of the points or origination fees? My VA fees doesn’t show on my 1098

 
2 Replies
MaryK1
Level 9

Is my VA funding fee claim as part of the points or origination fees? My VA fees doesn’t show on my 1098

No, qualified  mortgage insurance provided by the Department of Veterans Affairs is commonly known as a funding fee. The funding fee can either be included in the amount of the loan or paid in full at the time of closing and cannot be deducted in 2017 because it is considered Mortgage Insurance, not points or original fees.

[Edited  17.01.17 22:30PM]






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TaxGuyBill
Level 9

Is my VA funding fee claim as part of the points or origination fees? My VA fees doesn’t show on my 1098

However, the deduction Mortgage Interest expired last year, so it is not deductible on your current 2017 tax return.
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