Bought home in Nov.07 and got statement for paid points late after filed, can I deduct points in 08 return?
I bought my first home in Nov.07 and wasn’t able to itemize for 2007 in tax form. I also got statement for points I paid on that purchase for 2007 but wasn’t able to deduct it. Can I somehow deduct it now in tax forms for 2008 when I am itemizing?
,,Bought mobile home from a landlord and finds out he never had title? ,Filed a tax return late because Paychex issued check after business closed.? ,I havent filed my return for 2006 taxes yet, is it too late? ,Filed federal 6 months late. Return garnished. If I file injured spouse, will other be penalized for tax due? ,Can I add a “Paid in Full” statement to my check to the IRS? ,Tags: After, bought, deduct, filed, home, late, Nov.07, paid, points, Return, statement
Comments (1)
Sorry, but the IRS will not allow that. For itemizing deductions and claiming those types of things you can only put them on the tax return for year they were paid. (Paid in 2007, it can only go on the 2007 tax return. Paid in 2008, it can only go on the 2008 tax return. The same with W-2 and work income.)
So you might be able to look at your 2007 taxes and see if with the points added in would you have enough to itemize, but that is all that you can do.
Shannon C.