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#3
07-26-2004, 07:04 AM
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 Re: Home refinance deductions SG <suegol[at]highstream.net> wrote: - quote - > Can anyone tell me which of the closing costs for a mortgage refinance
Points can be amortized over the life of the loan. Real> loan are deductible on taxes? And also where do they get entered in > order to be deducted? estate taxes and mortgage interest can be expensed on schedule A. If amortizing points, they are also schedule A items, non-1098 interest. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
07-23-2004, 02:00 PM
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| Re: Home refinance deductions "SG" <suegol[at]highstream.net> wrote: - quote - > Can anyone tell me which of the closing costs for a mortgage refinance
None. If you paid points, they are amortized over the life> loan are deductible on taxes? And also where do they get entered in > order to be deducted? > Thanks much! of the new loan. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
07-23-2004, 06:22 AM
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| Re: Home refinance deductions "SG" <suegol[at]highstream.net> wrote: - quote - > Can anyone tell me which of the closing costs for a mortgage refinance
From your settlement sheet, you can deduct the real estate> loan are deductible on taxes? And also where do they get entered in > order to be deducted? taxes paid and any short term or interim interest paid. You can amortize any points paid over the life of the loan. These go on Schedule A as either real estate taxes or interest. Gene E. Utterback, EA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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07-23-2004, 05:44 AM
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| Re: Home refinance deductions SG <suegol[at]highstream.net> writes: - quote - > Can anyone tell me which of the closing costs for a mortgage refinance
Only points, which are amortized as mortgage interest on> loan are deductible on taxes? And also where do they get entered in > order to be deducted? Schedule A over the life of the loan. See IRS Publication 936. Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
07-21-2004, 05:58 AM
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| Home refinance deductions Can anyone tell me which of the closing costs for a mortgage refinance loan are deductible on taxes? And also where do they get entered in order to be deducted? Thanks much! Sue << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deductions, home, refinance |
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