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mamalookie
Level 1

Mortgage Recast

Is a mortgage recast tax deductible? If so, how would I go about entering it into turbotax?

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‎April 18, 2022 4:06 AM
last updated ‎April 18, 2022 4:06 AM
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Vanessa A
Employee Tax Expert
Employee Tax Expert

Mortgage Recast

No, the only part of a mortgage that is tax deductible is the interest paid and the points paid.  You would still be able to deduct interest paid by entering your 1098, but not the lumpsum payment. 

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‎April 18, 2022 6:07 AM
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Vanessa A
Employee Tax Expert
Employee Tax Expert

Mortgage Recast

No, the only part of a mortgage that is tax deductible is the interest paid and the points paid.  You would still be able to deduct interest paid by entering your 1098, but not the lumpsum payment. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 18, 2022 6:07 AM
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