points on loan paid off in previous year take remaining now?

[ljwalters]

This client is new this year. 

Line by Line audit last year and the preparer (he thought was a tax attorney, was EA) blew him off.

 

The last 2 years has amortized points of $207.

 

When looking at his doc's the last refi did not have points.  This was from a refi that was paid off.

Can I just take the remaining points on paid off loan this year?

[kcjenkins]

yes

[grandmabee]

only if different bank.  same lender then you keep on amortizing the points

[TAXMAN]

Agree with grandmabee. However I saw a case were tp came to table with enough cash to cover all closing cost. Agent allowed remaining points to be written off.

[Burke]

 

The last 2 years has amortized points of $207.

 

When looking at his doc's the last refi did not have points.  This was from a refi that was paid off.

Can I just take the remaining points on paid off loan this year?

I believe you need to amend the return for the year in which the remaining points should have been written off, not add them to this year.   And possibly the years since.