i JUST POSTED A QUESTION ABOUT POINTS AND FEES ON A REFINANCE MORTGAGE. i FORGOT TO MENTION THAT THE 1098 RECEIVED HAS 0 IN BLOCK 6 BUT MY CLOSING STATEMENT SHOWS OVER 14K IN ORIGINATION, POINTS, PREPAID INTEREST, AND OTHER TAXES AND FEES
The Form 1098 often doesn't show origination fees/points. You can still deduct the qualified points paid from your settlement statement.
You can deduct any interest or real estate taxes on your Settlement Statement that are not already included on your Form 1098. Only pro-rated amounts can be deducted, not prepaid amounts held for escrow.
Also, you can deduct qualified points paid on a mortgage, but they have to be spread out over the term of the loan. The software will prompt you to select that. (Points can also be called loan origination fees, maximum loan charges, discount points, or loan discount.)
Most other fees are not deductible, but can be added to the basis to reduce potential capital gains when you later sell the property.
What kinds of refinancing costs can I deduct?
https://ttlc.intuit.com/replies/3300426
It goes in the same area as your regular mortgage interest. When you enter the new mortgage interest, the software will ask you questions about the new loan and you will be able to select that it was a refinance.