Interest - Itemized Deduction
Refinanced - Points Paid
Points paid on a home mortgage refinance cannot be deducted in the year they’re paid unless the money is used to improve the property which is your primary residence. Generally, points on a refinance must be deducted over the life of the loan. That means, if you took out a refinanced loan for 15 years, you would have to amortize the points over 180 months.
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