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Andrew Schwartz CPA
Apr 2, 2008 - 8:17PM
Re: Re: points and deductions

I would say that the points are deductible in the year that you take out the loan. If you put a deposit towards a loan in 2007 which will count as points when you close the loan, but don't close on the loan until 2008, then it would be a 2008 deduction.

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