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johnd1
New Member

Why would TurboTax ask - We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2015. Wouldn't this be in 2015?

 
2 Replies
klgriff
New Member

Why would TurboTax ask - We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2015. Wouldn't this be in 2015?

some points are spread out throughout  the loan and you can deduct a percentage each year
fanfare
Level 15

Why would TurboTax ask - We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2015. Wouldn't this be in 2015?

You must deduct points / N , where N is the term of your loan in years.
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