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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Mike Hagerty who wrote (620)	12/13/1998 10:08:00 AM
From: Spots	Respond to of 1383

If this is a home mortgage for a personal residence, I'm sure you must amortize points over the lifetime of a re-fi mortgage. The IRS instructions are very clear on this. It has been true since the original home-mortgage limitation bill some time ago. (It was clarified in that bill; before there were disputes from time to time, if I recall correctly.) There is a publication on the IRS web page that should give you the authority (don't know it's number). However, as I recall the 1040 instructions also cover this point (also on the IRS web page). Spots