Question by madison134: I’m refinancing my mortgage, what exactly is amortized over 30 years?
Answer by nyboi630
Your points. Basically this means that if you get a mortgage that includes points (which are basically prepaid interest), then you CANNOT deduct it ALL in the first year, but instead have to spread out the deduction over 30 years.
(normally interest is deductible in the year you paid it, so this is the exception).
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