One Time Close Construction Loan

[TF31]

I closed on a one-time close construction loan for a new personal residence in late November 2024 paying $8000 in points at closing.  There were no other draws or interest in 2024.  I understand that the $8000 is fully deductible in 2024 but don't know how to get TurboTax to recognize that (it significantly limits it).  Any suggestions?

[AmyC]

Let's get the  credit you deserve. See Deduction Allowed in Year Paid to determine if you qualify.  Generally points aren't fully deducted.

To deduct 100% of your 2024 points on this tax return, you must check the box "This is a new loan on which I paid points (origination fees) in 2024" and the box "I bought or improved my main home with this loan in 2024."
 

Reference: About Publication 936, Home Mortgage Interest Deduction