Are points deductible?

If you are a Florida Keys including Key Largo, Tavernier, Islamorada, Marathon, Big Pine Key and Key West buyer, and you or the seller pays points, they are deductible for the year in which they are paid only. You also can deduct any points you pay when you refinance your Florida Keys including Key Largo, Tavernier, Islamorada, Marathon, Big Pine Key and Key West area home, but you must do so ratably over the life of the loan. Consult your tax or financial advisor.

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