For tax purposes, do I deduct: "Origination Charge" or Points for the specific interest rate chosen"In the HUD-1 statement I got when I refinanced, it lists:
Line #801: "Origination Charge = $1295.00
Line #802: "Points for the specific interest rate chosen = $4125.00
Line #803: "Adjusted Origination Charges" = $5420.00 (sum of #801 and #802)
TurboTax asks for the "Dollar Amount of Points Paid (Origination Fees)". What amount do I use???
I have read prior answers to similar question and they are conflicting. Some answers say only line #802 is deductible, other say line #803 is deductible. Other answers say line #801 is not deductible. So what is the correct answer????