HUD-1 deductions from refinance

1) Which lines on the NEW HUD-1 can be tax deducted specifically lines 801-803, 209, & 902.

2) Do those lines have to be amoritized over 84 months specifically in refernace to a refinance or can they be deducted in one lump sum?... and what if the UFMIP was financed vs paid at closing?

3) Do we had to subtract the refunded UFMIP from the new UFMIP before deducting?

4) If we deducted the UFMIP from the purchase loan in one lump sum, was that correct b/c it was paid at closing and not financed and also b/c it was a purchase loan not a refinance loan? Also, do we have to ammend past taxes b/c we got some refunded during the refinance?
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    Generally the items that may have Federal income tax influence in the tax year of settlement are lines 106, 107, 108, 210, 211,212, 406, 407, 408, 510, 511 and 512 on page 1
    801, 802, 803, 901 and  902.
    Lines 801, 802, 803, 901 and  902. come from a form calles the GFE(Good Faith Estimate)

    See HUD-1

    AT

    http://www.hud.gov/offices/adm/hudclips/forms/files/1.pdf

    See Instructions for HUD-1

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    http://edocket.access.gpo.gov/cfr_2009/aprqtr/24cfr3500AppA.htm


    Lines 801, 802, and 802 have to do with Points.  See the instructions for  the GFE(Good Faith Estimate)

    AT

    http://www.hud.gov/offices/hsg/ramh/res/gfestimate.pdf
    • TurboTaxOliver:
      The information provided is true, but I already have and know what the HUD-1 and GFE are.  The questions pertained to which lines 801+802 or 803 to deduct and them how to deduct them (lump sum or amortized over 84 months).
      801. Our origination charge
      802. Your credit or charge (points) for the specific interest rate chosen
      803. Your adjusted origination charges

      As for line 209 and 902, Do we had to subtract the refunded UFMIP from the new UFMIP before deducting? Then, how to deduct them (lump sum or amortized over 84 months)?
      209. MIP Credit
      902. UFMIP

      Thanks,
    • Can they be deducted in one sum? Line 902? Or does it have to be divided by 84???
    • What about line 901?
    • Line 901 on my Hud-1 is Daily Interest Charges.
    • I have the same question with the new HUD-1. I purchased a home last year (2011). My HUD-1 has these:
      801. Our origination charge
      802. Your credit or charge (points) for the specific interest rate chosen
      803. Your adjusted origination charges
      901. Daily Interest charges

      Turbotax doesn't seem to have anything about HUD-1s in their questionnaire.
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