is my home mortgage interest and discount points deductible?
Buyers Answers

The answer is yes.  Your mortgage interes is deductible and also your discount points.The discount points have to be divided by the life of the loan.

For example, lets say you paid $2,000.0 in discount points in relation to your mortgage and the mortgage is amortized for 30 years. You must dived $2,000.00 by 30 and deduct the result($66.67) avery year until you sell or refinance. If you don't finsish deducting the whole $2,00.00 febore you sell or refinance, then you deduct the remaining balance on the year you sell or rifinance.