Finance
In Tennessee, 'points' paid on a mortgage are typically tax deductible as:
AA capital gain deduction
BMortgage interest in the year of purchase (or amortized over the loan term for refinances)✓ Correct
CA business expense for all buyers
DA property tax deduction
Explanation
Discount points paid on a home purchase mortgage are generally deductible as mortgage interest in the year paid. Points paid on a refinance must be amortized over the loan term.
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