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From: cmsj@ihuxm.UUCP (Chris Jachcinski)
Newsgroups: net.taxes
Subject: Re: House purchase deductions
Message-ID: <846@ihuxm.UUCP>
Date: Tue, 31-Jan-84 09:28:18 EST
Article-I.D.: ihuxm.846
Posted: Tue Jan 31 09:28:18 1984
Date-Received: Mon, 6-Feb-84 16:35:18 EST
References: <331@bunker.UUCP>, <699@elsie.UUCP>
Organization: AT&T Bell Labs, Naperville, IL
Lines: 17

While on this subject, can anyone give me a definitive
answer to this question regarding mortgages?

In 1983 I refinanced my condo; of course there were the
"usual" points and I assume these are deductible as
interest (they do meet all the IRS criteria specified
in publication 17).  I also paid a "buydown" fee which
lowered the interest rate of the mortgage.  Is this
fee considered the same as "points" and fully deductible
as interest in 1983? or do I have to spread out the sum
over the life of the mortgage?  or some other rule?

                           Thanks,
                           Chris Jachcinski
                            AT&T Bell Labs, Naperville, Il
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