2016 taxes: Tax Deductible Items for 2016 Mortgages
- 01/05/17 12:13 PM
Congratulations on your mortgage closing! Here is a general overview of some information that may be helpful to you and your CPA as you prepare your 2016 tax returns: Points Paid on a Home Purchase in 2016 Closing Disclosure Page 2, Section A - If the origination charges on Page 2, Section A of the Closing Disclosure include points paid to your mortgage company in exchange for a lower interest rate, you can deduct those points in the year paid… even if they are paid by the seller. Other fees in this section (application, underwriting, processing, etc.) are NOT tax deductible. Only bona … (0 comments)
Congratulations on your mortgage closing! Here is a general overview of some information that may be helpful to you and your CPA as you prepare your 2016 tax returns:
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