Everyday Tax Tips

Home Mortgage and Points Paid

by | Feb 11, 2016

The biggest purchase many Americans make is their home. And for many, this purchase will involve obtaining a mortgage. Mortgage interest–and the related points paid at closing–can be deducted on your tax return for interest paid on mortgages less than $1 million. Talk to your tax professional about how to take advantage of this valuable deduction. Don’t have a tax professional? Ask Ms. Tax!