Can I deduct the amount for the points paid on purchase of principal residence box 6?

Yes. Points paid on a mortgage for the purchase or improvement of a personal residence may be deducted in the year they are paid. Points paid to refinance a mortgage are capitalized and deducted over the life of the loan.

To enter points paid in TurboTax:

• From the Federal menu, select Deductions & Credits
• Select Mortgage Interest and Refinancing (Form 1098)
• Enter your mortgage interest information and continue through the screens.
• Select the first option when you reach the following screen:

• On the following screen, indicate how the points were reported. Upon the selection, a box will appear where you can enter the points reported in box 6.

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