If I refinanced my house in 2016 is any part of it tax deductible?

Other answer:

Interest and property tax. If you paid points, a little of those might be deductible if you itemize. On a refi, you amortize the points over the life of the loan, can't just deduct them all that first year.
the mortgage interest
Max Hoopla:
Interest on your original mortgage amount for the remaining life of the original mortgage is deductible. The computation of that is very complicated. You can also deduct interest on up to $100,000 due on a home equity loan.
Pascal the Gambler:
Interest and property taxes paid.
Mortgage interest and any points are the only things you can deduct and only if you have enough deductions to itemize. Otherwise you use std ded and can't claim any of it
If you paid any points, that would be deductible if you itemize.
None of the refinancing cost is. That's added to the basis. Just mortgage interest and property taxes like always and maybe PMI.

Leave a Reply

Your email address will not be published. Required fields are marked *