Are points & Origination Fees Tax Deductable
July 26, 2010 by fgregory · Leave a Comment
We finally found the answer to a commonly asked client question that very few can answer with 100% certainty. We’d like to share it with you today.
Are the points and origination fee paid as closing costs to obtain a loan a tax deduction? Most of us are not tax professionals to provide our clients tax advice so here’s the link from the IRS website that will explain best: http://www.irs.gov/publications/p936/ar02.html#en_US_publink1000229936.
What about when the seller pays for the points and origination as a seller-paid contribution? Try another YES! Check out this link: http://www.irs.gov/publications/p936/ar02.html#en_US_publink1000229954
Born in California
BS Degree in Architectural Engineering
Practiced as a Architectural/Civil Engineer 17 Years
Licensed Realtor 17 years
Licensed Real Estate Broker 5 years
Broker/Owner of Avalar San diego Real Estate & Loans