Do negative (ie rebated) points count as income? (refinance, closing, interest) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

yam · 09-23-2010, 08:22 AM

If I refinance with negative points (ie money rebated towards closing costs), does this rebated amount count as income for federal tax purposes? Does it offset against mortgage interest paid for the year?

sigep739 · 09-23-2010, 10:39 AM

No. But I'm not a tax attorney. But this is a quite regular occurence.