Internettaxconnection.com Introduces Reasons for Deducting Mortgage Points on Tax Returns
Home buyers have one of the largest of debts – a home mortgage – and tax expert Frank Ellis reveals how paying "mortgage points" adds to this, but can be deducted when filing taxes. The fees, known as mortgage points, each equal one percent of a loan. Origination points, and discount points (a form of prepaid interest), add to the monthly totals. Prepaid interest and mortgage points is typically tax deductible.
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