It depends on the rest of your circumstances whether your points are deductible in full. Since TurboTax is not accepting your points, I recommend the following steps: Delete the existing mortgage interest expense entry Re-enter the details and answer the interview questions according to the guidance belowAnswering that you... Paid points when you purchased or refinanced to improve your main home in 2019 will mean the points will be deducted Pain points when you refinanced, purchased a 2nd home, or opened a home equity line of credit means the points will be deducted over the life of the loan. For example, if the points total was $3,000 and the mortgage is 30 years, then $3,000*1/30= $100 would be deducted in 2019.

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I’m entering my potion of points paid on my new mortgage and the program is not accepting it

Forum|Forum|6 years ago
February 24, 2020
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KathrynG3

It depends on the rest of your circumstances whether your points are deductible in full. Since TurboTax is not accepting your points, I recommend the following steps:

Delete the existing mortgage interest expense entry
Re-enter the details and answer the interview questions according to the guidance below

Answering that you...

Paid points when you purchased or refinanced to improve your main home in 2019 will mean the points will be deducted
Pain points when you refinanced, purchased a 2nd home, or opened a home equity line of credit means the points will be deducted over the life of the loan.
- For example, if the points total was $3,000 and the mortgage is 30 years, then $3,000*1/30= $100 would be deducted in 2019.