I pay a bank 2 points to buy down the interest on my home loan. Are these points deductible? __________. If so, what factor would allow me to deduct these all in the current year versus over the life of the loan? __________________________________________________
Added by Aitor H.
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Generally, points paid on a mortgage to buy down the interest rate are considered prepaid interest and can be deductible on your federal income tax return. Show more…
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