Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
C
charlottehamilto
March 6, 2022
Question

Is the loan the same if I refinanced my home with the same company I bought the home with?

  • March 6, 2022
  • 1 reply
  • 0 views
No text available

1 reply

P
PattiF
March 6, 2022

The new loan is with the same lender and is not considered as a refinance with a different lender. 

 

If you had points that you are amortizing from the first loan,(taking a deduction every year for the points), you will keep deducting the points from the original loan yearly for the life of the new loan. IRS Publication 936: "However, if you refinance the mortgage with the same lender, you can't deduct any remaining balance of spread points. Instead, deduct the remaining balance over the term of the new loan".

 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification