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I know that prepaid points when refinancing are deducted over the life of the loan. My question is, what if you refinance again in a few years? How do you keep track of your deduction from a prior loan?
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No. of Recommendations: 2
I know that prepaid points when refinancing are deducted over the life of the loan. My question is, what if you refinance again in a few years? How do you keep track of your deduction from a prior loan?

If you refinance you deduct the remaining unamortized points from the old loan in the year that you refinance. See Publication 936.

Phil Marti
VITA Volunteer
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