Subject: Interest and points deductability
Date: Tue, 24 Jul 2001
I am planning to purchase a commercial real-estate with a loan. Are points on the loan tax deductable for the year transaction occurred?
Date: 25 Jul 2001
Points are only currently deductible when they are paid for the purchase of a principal residence.
Points for the purchase of a commercial property are amortized over the term of the loan.
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