While Points Paid to Purchase a Residence Are Deductible as Interest

question 24

True/False

While points paid to purchase a residence are deductible as interest in the period paid,points associated with the refinancing of a residence must be amortized and deducted over the life of the loan.

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Definitions:

Alcohol Use

The consumption of beverages containing ethanol, ranging from light drinking to heavy alcohol use, which can affect physical and mental health.

Antabuse

Disulfiram, a drug that is used to make the experience of drinking extremely aversive. It blocks the action of the metabolizing enzyme acetaldehyde dehydrogenase, resulting in a build-up of acetaldehyde in the body. Like people who naturally lack this enzyme, people who drink alcohol after taking Antabuse experience increased heart rate, nausea, vomiting, and other unpleasant effects.

Reducing Alcohol

The practice of decreasing alcohol intake, often aimed at improving health, avoiding adverse effects, or recovering from dependency.

Naltrexone

A medication primarily used in the management of alcohol dependence and opioid dependence.