I paid a 1% fee for a rate modification. Is it deductible (over the remaining term of the loan)?

It was not reported on my 1098, but this is a fee I paid to lower my interest rate, and it is a percentage of the loan amount.  If it is amortizable, how do I report it in TurboTax?
    Here is some more information that may help answer the second part of your question: "How do I report it in TurboTax?"

    See this other support article (the image is from a prior year but you can probably connect it to a 2012 return):

    There is still a question I have:
    My loan mod did not change the term of the loan. To get TT to make the calculation, you need to enter the remaining term of the loan - but TT only accepts full years. Mine is not an exact number of years. So I'm still looking for an answer.
    • When I clicked on "this is a new loan", the program deducted the total points in 2012 - so be careful to check your schedule A.  You do have to round the years remaining up or down.  The difference is really not material.

    Yes, that is, typically, how it works.  You enter it the same way as ordinary mortgage interest.  When you enter the lender information, you will see a Checkbox to select for spreading it out (amortizing) over the term of the loan.  Let us know if you need more help.  Also, see below for more details:

    Generally, you can only deduct qualified points paid on a mortgage over the term of the loan, unless the property is rental property.

    The fees that can be deducted in a mortgage refinance generally depend on whether the property is your principal or rental residence, how the loan proceeds were used, and whether you paid qualified points or not.


    Qualifying points are considered pre-paid interest.  This interest is paid or treated as paid to the lender by a borrower to obtain a mortgage loan. Points can also be called loan origination fees, maximum loan charges, discount points, or loan discount.


    Here is a good article titled  What Can I Deduct in a Mortgage Refinance? that may be helpful too:


      Contribute an answer

      People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

      1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
      2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
      3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
      4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
      5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.