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refinance points?

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    refinance points?

    new client refinanced home 15 years ago, 30 year loan, points have been amortized for these 15 years, in 2008 he refinanced again (this time, no points) someone told him he had to amortize the remaining points for the life of the new loan, because it was refinanced by same institution. i can't find anything like that in Tax book and some IRS literature. i was going to claim the remainder of points on schedule A , but now i'm wondering if i am wrong.

    #2
    Originally posted by taxmom34 View Post

    he had to amortize the remaining points for the life of the new loan, because it was refinanced by same institution. i can't find anything like that in Tax book and some IRS literature
    Yes. See TTB p. 4-12 & Pub 17, p. 155.

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