- Community
- Support
- TurboTax
- Credits and deductions
- Homeownership
- What kinds of refinancing costs can I deduct?
TurboTax HelpIntuit
What kinds of refinancing costs can I deduct?
by TurboTax• Updated 7 months ago
Generally, when you refinance your main home or a second home for personal use (such as vacation property or a cabin), you can only deduct points over the life of the loan. You'll need to take the itemized deduction.
Mortgage interest, real estate taxes, and private mortgage insurance may also be deductible if you itemize. Other typical closing costs on a refinance (appraisals, underwriter, attorney, bank fees, title search, etc.) are not deductible.
We'll ask about your refinancing expenses when you go through the Your Home area in the Deductions & Credits section.
Now, if you refinanced rental property, there's a lot more you can deduct.
More like this
- I refinanced my home, what can I deduct?by TurboTax•983•Updated December 13, 2023
- What can I deduct when refinancing rental property?by TurboTax•1463•Updated December 09, 2023
- I bought a house, what can I deduct?by TurboTax•1791•Updated January 22, 2024
- How does refinancing a home affect my taxes?by TurboTax•1440•Updated December 13, 2023
- What kinds of rental property expenses can I deduct?by TurboTax•3207•Updated January 29, 2024