Are mortgage refinance points tax deductible?

Answer On One Hand: Only If You ItemizeIf you choose to itemize your tax deductions, you can write off the cost of discount points on your mortgage refinance over the life of the loan. Record the deductio... Read More »

Top Q&A For: Are mortgage refinance points tax deductible

Are mortgage points deductible on taxes?

On One Hand: Mortgage Points Are DeductibleThe Internal Revenue Service allows you to deduct the cost of mortgage points from your taxes. If you are taking out a first mortgage, you can deduct the ... Read More »

Are mortgage interest payments and points deductible?

The interest paid on your mortgage is tax deductible as long as it is your first or second residence, you are the owner of the home and you itemize your deductions on your tax returns. In addition ... Read More »

Can you refinance a primary mortgage without refinancing a second mortgage?

It is possible to refinance a primary mortgage without refinancing a second mortgage by subordinating the second mortgage. Subordinating a second mortgage means you are filing a document so that th... Read More »

Are closing costs on a refinance tax deductible?

Closing costs on a refinance are not tax deductible. However, if you pay for discount points on your refinance, you can deduct the cost of those points over the life of your loan if you itemize you... Read More »