If you indicated that you took out the loan in 2016 to purchase your home (or refinanced to improve the home), the points can be deducted in full on your tax return. If TurboTax is taking the full amount in 2016 and you are amortizing, choose I paid points when I refinanced, purchased a second home, or took out a home equity loan in 2016 when asked Did you pay points in 2016 when you took out the loan? (Click the screenshot below for reference.)
If you indicated that you did not take the loan out in 2016, TurboTax will automatically prompt you to enter information to amortize any points paid (i.e., mortgage origination date, points, and length of the loan in years).
If you indicated that you took out the loan in 2016 to purchase your home (or refinanced to improve the home), the points can be deducted in full on your tax return. If TurboTax is taking the full amount in 2016 and you are amortizing, choose I paid points when I refinanced, purchased a second home, or took out a home equity loan in 2016 when asked Did you pay points in 2016 when you took out the loan? (Click the screenshot below for reference.)
If you indicated that you did not take the loan out in 2016, TurboTax will automatically prompt you to enter information to amortize any points paid (i.e., mortgage origination date, points, and length of the loan in years).