Can i claim points paid on a refinance of my house on my tax return cant find this answer anywhere?

Clemmie
In addition to Wayne Z's correct answer and excellent example, if you re-fi again or when you sell the home you can then claim any remaing deductions for the points that have not been deducted previously. So if you'd already claimed $500 of the points when you re-fi or sell, you may deduct the remaining $1, 300 in the year that you re-fi or sell.Please give Wayne Z the points for this, as he has given you the first answer and an excellent one at that.

Meggan
It is part of the refinance, My best guess is YES...go to irs.gov for a better answer..or call your local tax office or called or get on line and ask H & R BLOCK that question! Gary

Isabelle
Sort of.Points on a refi are deductible but they must be spread out over the life of the loan.For example: Yo refi'd last spring, your first payment was July, you made 6 payments in 2007 and you paid $1800 in points. Also the new loan was a 30 year loan.$1800 / 360 months = $5 per month$5 er month X 6 months = $30 deduction in 2007