Deductible Home Buying Expenses [OFFICIAL]

: If you paid "discount points" to lower your interest rate, they are often fully deductible in the year you paid them, provided the loan is for your primary residence and meeting other IRS criteria. Nondeductible Closing Costs

Topic no. 504, Home mortgage points | Internal Revenue Service deductible home buying expenses

: You can deduct interest paid on up to $750,000 of mortgage debt ($375,000 if married filing separately) for a first or second home. : If you paid "discount points" to lower

This cap is reduced to $20,000 for those who are married and filing separately. 000 of mortgage debt ($375