Question

I bought a home and servicing transferred both in 2024. For current servicer where it asks if I paid points on purchase, do I enter points again?

Forum|Forum|1 year ago
April 2, 2025
1 reply
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My purchase was in July and servicing transferred in August or September. Thinking I don't have to but want to be sure.

TurboTax Deluxe Online

As you are entering the information from your Form 1098 in TurboTax, when you see the question, "Did you pay points in 2024 when you took out the loan?", select "We paid points when we purchased or refinanced to improve our main home in 2024" in order to deduct the points. Only enter the points for the loan for which they were paid.

If you instead select "We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2024", TurboTax will set the points up to be amortized.

Please see this tax tips article for more information on deducting points.

Please see IRS Tax Topic 504 for further guidance regarding mortgage points.

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