My qualified mortgage interest was $18,000 + $10,000 in points. but my deductible points come out to only $187. Is that correct? This seems low.

[JohnB5677]

Please clarify your question.

• Did you allocate the points over the life of the loan?
• Was the mortgage in effect for all of 2024, or only part of the year?

Please contact us again to provide some additional details. 

[ralake84]

-I don't know what it did.  I just entered it on my Turbo tax.

-The mortgage was for only part of 2024. I purchased the home in June.

[fanfare]

Your points are divided by 30 years ( the term)

Then,, considering exact  number of days, Turbotax only gives you about  6 / 12ths of that the first year.