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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Zeuspaul who wrote (183)	11/5/1997 12:14:00 AM
From: Zeuspaul	Read Replies (2) \| Respond to of 5810

Question on home refinance points. Do I in all cases have to deduct refinance points over the length of the loan?(this is what I believe) Or , the mortgage broker indicated to me that if I pay the loan points with cash and do not roll them into the loan I can deduct them all up front? He wasn't sure but indicated that he had heard from several sources that this was the case. Also, If the total loan balance of the refinanced loan with points and closing costs exceeds the original loan amount are there any tax consequences?

To: Zeuspaul who wrote (183)	11/5/1997 9:44:00 AM
From: RealMuLan	Read Replies (1) \| Respond to of 5810

As a matter fact, E-trade had this service back in April this year and I used it, but then they eliminated it. I guess they did it for a reason, either because IRS told them it does not matter, or because it was costly. I am a short-term investor. 100% of my gains are less than one year, and I don't hold any stock longer than a year. So it doesn't really matter for me by using LIFO or FIFO. And one more thing, apparently not many people are worried about the lot, otherwise, there won't be so many people join on-line trading, will there? Good luck.