is the origination fee tax deductable? - 未名空间MITBBS历史存档

国际科技财经博客移民网络热点娱乐民生时事公众号

Redian新闻

>未名空间

>Living

is the origination fee tax deductable?

is the origination fee tax deductable?# Living

p*p2012-03-19 07:03

1 楼

according to IRS, the origination fee for loan application is tax deductable
. if the origination fee is $A and the rebate from lender is $B (B>A) for non-
closing cost purchase/refinace loan, is the origination fee $A tax
deductable?
thanks.

p*t2012-03-19 07:03

2 楼

我当时看了几遍，觉得是买points的fee是tax deductible的

p*p2012-03-19 07:03

3 楼

I also read it. here is my understanding:
1) Origination fee is deductable
2) If orignation fee is not calculated in points, the deduction is amortized
into each year whithin the loan period.
However, it doesn't mention the rebate or the adjusted originaltin fee (A-B).

【在 p******t 的大作中提到】

: 我当时看了几遍，觉得是买points的fee是tax deductible的

p*p2012-03-19 07:03

4 楼

自己顶一下. 版上有知道的大虾,请给指点一下. 谢!

deductable
non-

【在 p*******p 的大作中提到】

: according to IRS, the origination fee for loan application is tax deductable
: . if the origination fee is $A and the rebate from lender is $B (B>A) for non-
: closing cost purchase/refinace loan, is the origination fee $A tax
: deductable?
: thanks.

h*32012-03-19 07:03

5 楼

point charge on purchase loan, you can write off the entire amt.
if it's refinance, point charge is to be amortized over the term of the loan
(15 or 30 yrs)
other closing costs are incl in the cost basis of your prop. not to be
expensed.
deduction amt is to be the actual expense less rebate rec'd. not supposed
to take deduction and get refund/rebate on the same amt at the same time.
thats double dipping. :p

deductable
non-

【在 p*******p 的大作中提到】

p*p2012-03-19 07:03

6 楼

Hi hkmbb3,
Thanks for your answers. However, I can not find the words from IRS
instrucions to support
"deduction amt is to be the actual expense less rebate rec'd. not supposed
to take deduction and get refund/rebate on the same amt at the same time.
thats double dipping."
could you point me out the offical IRS explanation to support that?
Thanks again.

loan

【在 h****3 的大作中提到】

: point charge on purchase loan, you can write off the entire amt.
: if it's refinance, point charge is to be amortized over the term of the loan
: (15 or 30 yrs)
: other closing costs are incl in the cost basis of your prop. not to be
: expensed.
: deduction amt is to be the actual expense less rebate rec'd. not supposed
: to take deduction and get refund/rebate on the same amt at the same time.
: thats double dipping. :p
:
: deductable