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bandb2
Level 4
March 4, 2024
Question

mortgage points

  • March 4, 2024
  • 2 replies
  • 11 views

Taxpayer refinanced mortgage and paid points, and are being amortized over life of new loan. If the loan is bought by a different lender, can the unamortized balance be deducted or must the points continue to be amortized according to the original schedule?

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2 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 4, 2024

I "think" since its the same loan, they continue to carry. 

You'd only write them off completely when they refi into a new loan or pay it off.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    Skylane
    SkylaneIntuit Community Champion
    Intuit Community Champion
    March 4, 2024

    Continue to amortize according to the original schedule

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