I refinanced in 2009 paying $2400 in points.
I amortized the point deduction every year:
2009 47
2010 80
2011 80
2012 80
2013 80
2014 80
2015 80
Total $527.00
Remaining: $1873.00.
I refinanced again in 2016. I should be able to deduct the remaining $1873.00.
Turbotax is filling in the full 2400 I originally paid in 2009. I am going to override and enter $1873 but you should be aware the workflow / calculation for points is misleading and does not tell the tax filer they need to reduce the amount by points already amortized in previous years.
posted
last updated
June 06, 2019
3:44 AM