Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
R
ralake84
February 11, 2025
Question

My qualified mortgage interest was $18,000 + $10,000 in points. but my deductible points come out to only $187. Is that correct? This seems low.

  • February 11, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    JohnB5677
    JohnB5677
    February 11, 2025

    Please clarify your question.

     

    • Did you allocate the points over the life of the loan?
    • Was the mortgage in effect for all of 2024, or only part of the year?

    Please contact us again to provide some additional details. 

     

     

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
      R
      ralake84Author
      February 11, 2025

      -I don't know what it did.  I just entered it on my Turbo tax.

      -The mortgage was for only part of 2024. I purchased the home in June.

      fanfare
      fanfare
      Employee
      February 12, 2025

      Your points are divided by 30 years ( the term)

      Then,, considering exact  number of days, Turbotax only gives you about  6 / 12ths of that the first year.

        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