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June 17, 2020
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We don't know if we paid points in 2018 when we took out our home loan

  • June 17, 2020
  • 1 reply
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We don't have paperwork that shows wether or not we paid points when purchasing our home. Our documents on the house were stolen last year so we don't have a reference.
Best answer by Opus 17

You can't deduct anything you can't prove.

 

Furthermore, if you did pay points, you may have the option of deducting them in full in the year you bought your house (2018) or you would deduct them ratably (spread out over the life of the loan).  So the only way you could deduct points on your 2019 return is (a) you could prove you paid them, (b) you did not deduct a lump sum in 2018; in which case your deduction would be 1/30th of the amount of the points for a 30 year mortgage. 

 

Your attorney or closing agent might have copies of your documents. 

1 reply

Opus 17Answer
Employee
June 17, 2020

You can't deduct anything you can't prove.

 

Furthermore, if you did pay points, you may have the option of deducting them in full in the year you bought your house (2018) or you would deduct them ratably (spread out over the life of the loan).  So the only way you could deduct points on your 2019 return is (a) you could prove you paid them, (b) you did not deduct a lump sum in 2018; in which case your deduction would be 1/30th of the amount of the points for a 30 year mortgage. 

 

Your attorney or closing agent might have copies of your documents.