Skip to main content
June 1, 2019
Solved

Loan origination fee is 0% is this ok

  • June 1, 2019
  • 1 reply
  • 0 views
when looking at my house closing papers, I found that there is no numbers form loan origination fee or my loan discount.  Is this ok to have?  Usually, when I file my taxes, I have never had to put anything down when it came to either one of them, so I just want to make sure that I'm not doing something wrong
Best answer by MargaretL

It is OK and it is common to have no value on the origination loan/loan discount line if you didn't pay any loan origination fees at the closing.  At this point, no entries are needed on your tax return for loan origination.

If you paid any mortgage interest or real estate tax, you can deduct that.  It is also listed on Form 1098 that you should get form the lender.

1 reply

MargaretL
MargaretLAnswer
Employee
June 1, 2019

It is OK and it is common to have no value on the origination loan/loan discount line if you didn't pay any loan origination fees at the closing.  At this point, no entries are needed on your tax return for loan origination.

If you paid any mortgage interest or real estate tax, you can deduct that.  It is also listed on Form 1098 that you should get form the lender.

June 1, 2019
Thank you so much for the help