Late Mortgage Points?

[t-grnt03xx]

I purchased my house in October 2014.  My HUD-1 Page 3 Line #803 says, "Your adjusted origination charges" were $5,XXX.XX.   When I filed my 2014 Tax Returns in early 2015, I failed to deduct these 'Points Paid by Borrower.'  To exacerbate my error, I continued to neglect deducting these points on my 2015 Tax Return, as well. How do I deduct these Points, now? TurboTax isn't even asking me the question ("Do you want to deduct Points?"), because my loan had originated in 2014.

[DianeW · Accepted solution]

The points/loan origination fees must be deducted in the year paid.  For this reason you must amend the 2014 tax return to include this interest.

The instructions to amend your tax return are shown below.  The IRS does not allow the amended return to be e-filed so it must be mailed.  Read all the information before you begin.  Consider whether the state return might need to be amended as well (each state is different)/

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