Refinance Mortgage Points: Verify Rules With Your Tax Pro

Many homeowners wonder whether the IRS lets them write off points paid when refinancing a mortgage. This explainer looks at what could be confirmed about deducting mortgage points paid on a refinance.

Could not be confirmed

The details of how the deduction works, how it's calculated, and how it applies to your points example could not be confirmed here, because no specific IRS Publication 936 rules or deduction timelines were available as supported claims for this piece. We don't want to give you figures or rules that haven't been verified against current IRS guidance, so we're leaving those specifics out rather than guessing at them.

What you can do next

1. Hold off on filing based on assumptions about points deductions until you've confirmed the current-year rules directly with the IRS or a tax professional.
2. Gather your closing disclosure or settlement statement showing the exact points paid on your refinance.
3. Keep your loan documents in case you need to reference them for tax purposes in future years.

Key takeaways

• If you paid points on a refinance, the right next step is to confirm current rules with a tax professional or the IRS directly rather than relying on unverified figures.
• Keep your closing documents on hand, since you'll need the exact points amount and loan terms no matter how the deduction ultimately applies to you.

Frequently asked questions

Can you tell me exactly how much of my points I can deduct this year?

We can't confirm that figure here, because the specific IRS rules and amortization details needed to calculate it were not available as verified claims for this article, so stating a number would risk giving you incorrect tax guidance. Instead, gather your closing disclosure showing the exact points you paid and bring it to a tax professional, who can apply the current-year rules to your situation.