You'll need to sign in or create an account to connect with an expert.
The first question would be this-
Do you think the amount of Home Mortgage Interest you paid will make taking Itemized Deductions more advantageous that taking the Standard Deduction?
If adding Home Mortgage Interest to your other deductions won't be more than the amount of Standard Deduction for which you qualify, the interest amount is irrelevant and therefore not needed.
If you paid interest in 2022, and you know how much interest you paid, you can deduct it even if you don't get a 1098. If you paid no interest because things are in limbo, you don't have anything to deduct.
Points on the 2007 refinance should have been spread out over the life of the loan. For a 30 year loan, that would presumably mean you could deduct 1/30th of the points in 2022, even if you didn't make other payments this year. However, if you can't prove you paid points in 2007, you would lose the deduction if audited.
If you refinance with a new lender, you can deduct the remaining 2007 points in the year you refinance. However, you again have the problem of not being able to prove the points. Also, a loan being sold to a new servicing company is not the same as refinancing, so you probably can't deduct any remaining points even if you could prove what they were.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
quaagars
New Member
stephanie111111
New Member
Olive11
New Member
in Education
tjketelsen
New Member