Since Roy recently sold his home. My response is Yes, Roy can deduct the money he paid for the points.
A tax deduction is known to be any thing or an item a person can be able to subtract from their taxable income to bring low the amount of taxes they owe.
Note that a person can be able to select the standard deduction such as a single deduction at a fixed amount.
Therefore, based on the above, Since Roy recently sold his home. My response is Yes, Roy can deduct the money he paid for the points.
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Roy recently sold his home. Roy agreed to pay several thousand dollars in points to the buyer, and he is wondering if this is tax deductible. Can Roy deduct the money he paid for the points. Yes/No response
