Points Paid to Refinance a Mortgage on a Principal Residence

question 2

True/False

Points paid to refinance a mortgage on a principal residence are fully deductible in the year paid.

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Definitions:

Social Programs

Public or private initiatives designed to improve communities' welfare by addressing social issues such as healthcare, education, and income support.

Bottom Line

Refers to the net income of a company, indicating its profitability, or alternatively, the most important or fundamental aspect of a situation.

Ethical Turmoil

A state of confusion or disorder caused by complex ethical decisions or dilemmas, often leading to moral distress.

Corporate Responsibility

Corporate responsibility refers to a business's commitment to act ethically and contribute positively to societal and environmental well-being beyond mere profit generation.