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Level 1

Question

Hello is points the same as down payment?

Forum|Forum|5 years ago
May 17, 2021
1 reply
8 views

No text available

TurboTax Deluxe Online

Level 15

No. A down payment, or earnest money that goes towards paying for the house. Points are prepaid interest, paid to the mortgage company in order to reduce your interest rate. A down payment is not deductible. Points may be deductible as mortgage interest if they qualify. For more information, see:

Topic No. 504 Home Mortgage Points

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Level 2

Hello. I am ask about my refund. I was unable to finish our taxwa and needed a extension on our taxes. I put in for it and need information back.