How do I amortize my refinanced home loan?
I recently refinanced my home to take advantage of the lower interest rate and paid 2 points. I understand that I must amortize these points over the life of the loan. In my case 15 years. However, I am making extra monthly payments so that I will pay off my note in about 12.5 years. I file Schedule A with my return. Can I deduct my points based on 12.5 years instead of the 15 years? -thanks. —Mike, Norwood

Can my capital gains tax be deferred?
Capital gains tax: I sold my house 3 family house in Chelsea it had 2 floors rental income, my flat was second floor where I lived at. Sold it for 375,bought a piece of land in Peabody, 2 floor brown stone. for over 250, carrying a 75,000 morg. This is my first time selling property can the property gains tax be deferred? Or what is my alternative for tax? —Linda, Peabody

Can I deduct my settlement charges?
We purchased our first home in 2003. I was wondering what I can deduct from my total fees such as origination fees, appraisal fee, administration fee's, recording and transfer fee's. In short, can I deduct my settlement charges? —Jon, Springfield

 What is "passive activity"?

 Is the Stamp Tax deductible on my federal taxes?

 What can we write off on our vacation/rental condo?

 Do I get a tax break for renting an apartment?

 Do I have to report capital gains on the sale of a second home now or do I have 2 years to re-invest?

 Can mortgage interest from two homes be combined in filing our income tax?

 Will I pay tax in Massachusetts on a 1031 tax exchange?

 As a landlord, can I deduct cellphone charges?

 Are there tax benefits to putting a plaque on my historic home?

 Can interest on a boat be deducted if the boat is primary residence?

 How do I report a down payment for a condo?

 What form do I use to report rental property profit?

 Do I have to pay tax on the gain from a home sale?

 Can I use my 401k balance to purchase a home?

 Can I write off expenses from an apartment fire?

 Can I claim my taxes from my escrow account?

 Can I deduct car payments if I travel to maintain a rental property?

 Can I deduct travel expenses to Aruba if I own a rental property there?

 Are my home improvements tax deductible?

 Can a condominium’s monthly fee be deductible?

 What are the tax implications of purchasing an investment property?

 How should I report my rental income?

 How do I report costs of a recently sold second home?

 Should I mortgage my primary residence or my vacation home?

 For more information consult a CPA