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Refinance and the line '% of Loan Amount (Points)'

We refinanced in 2020 and closing document has a line '% of Loan Amount (Points)'  and has some dollar amount associated with it. Is this amount tax deductible since there is no indication of it on form 1098. 

 

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2 Replies
ThomasM125
Expert Alumni

Refinance and the line '% of Loan Amount (Points)'

It looks like those are points, which are loan fees that are based on the value of a mortgage loan. They are often not reported on the form 1098-T, but they are deductible.

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Refinance and the line '% of Loan Amount (Points)'

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