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Author Topic: Federal Income Tax Question twisted54 ¯ Member # 1981 posted                                 Can you claim points or loan origination fees for 2005 on your Fed income tax return? I think so but I'm not sure on how to do it. Thanks... -------------------- 2013 Black on Black 5.0 with Boost N Things - CORN FED 🌽 Posts: 3421 | From: ebay | Registered: Oct 2002  |  : Dag302 ¯ Member # 4682 posted                              You can claim points not loan orgination fee. I believe, I know its one and not the other. I think it is points because this is pre-paid interest. [ February 13, 2006, 10:37 PM: Message edited by: Dag302 ] -------------------- 04 Expedition 4X4 93 Cobra #822 96 Cobra Posts: 2842 | From: Sacramento | Registered: Jul 2004  |  : Dag302 ¯ Member # 4682 posted                              Check this out: http://tax-smart.com/tax-faq/www.irs.gov/faqs/faq-kw130.html -------------------- 04 Expedition 4X4 93 Cobra #822 96 Cobra Posts: 2842 | From: Sacramento | Registered: Jul 2004  |  : twisted54 ¯ Member # 1981 posted                                 I thought they were the same thing??? Do you know what the points would be listed as on a Good Faith Estimate? Thanks for the help... -------------------- 2013 Black on Black 5.0 with Boost N Things - CORN FED 🌽 Posts: 3421 | From: ebay | Registered: Oct 2002  |  : Dag302 ¯ Member # 4682 posted                              They are usually clearly labeled as points or origination. With point you are paying pre-paid interest to give yourself a lower interest rate and a lower payment. Thats why the points can be written off. A origination fee is the cost a lender is charging to give you the loan. If anyone out there knows more feel free to correct me. I was a Title Officer for Fidelity National Title so I had some access to loan info but not as much as Escrow side. -------------------- 04 Expedition 4X4 93 Cobra #822 96 Cobra Posts: 2842 | From: Sacramento | Registered: Jul 2004  |  : twisted54 ¯ Member # 1981 posted                                 I may not of paid any points then...I don't see anything listed at points. The only thing close is the Loan Origination Fee at 0.750% which is listed in section 801 Example ( http://www.mortgagereality.net/good_faith_estimate.html ) I'll call the lender and find out for sure tomorrow. Thanks again. [ February 13, 2006, 11:02 PM: Message edited by: twisted54 ] -------------------- 2013 Black on Black 5.0 with Boost N Things - CORN FED 🌽 Posts: 3421 | From: ebay | Registered: Oct 2002  |  :

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