Mosquito7778: "Does this in any way affect how much we can deduct as home mortgage interest? It is not clear to me from reading the IRS topic 504."It may, because generally you cannot deduct if you did not pay, but I will defer to the resident pros. "I recently purchased a home for which the seller agreed to pay $5k in closing costs. The closing costs included 1 point in origination fees and 3.8 points to buydown the interest rate for a total of about $7k in points. On the closing statement it looks like the sellers $5k was used to pay the points, and our cash at closing was used to pay for everything else."I suspect that it may depend upon exact contract provision. The ones with which I am familiar clearly allocate expenses to Seller or Buyer.And having read the first response, will the seller's sign a new closing statement? If not, I suspect that the title company will be reluctant to fiddle with revisions.Regards, JAFO
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