Claudia Refinances Her Home Mortgage on June 1 of the Current

question 97

Multiple Choice

Claudia refinances her home mortgage on June 1 of the current year.She obtains a 30-year mortgage at 5%.As part of the refinancing,she pays points of $3,600 (a customary practice in her location) .What amount,if any,of the points are deductible?

• A)$0
• B)$70
• C)$120
• D)$3,600

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