Principal Paydown to Refinance Home

[jane-ingles]

I refinanced my home but was required to bring extra money to closing as my old mortgage balance was higher than my new one due to loan-to-value.  Can I deduct the principal I paid down on old mortgage in order to refinance to new bank?

[MichaelL1]

The principal you paid as a down payment is not deductible expense for tax purposes.  

On a purchase or re-finance what counts for taxes are:  interest paid, points (if any) property taxes, and mortgage premium insurance (MPI).