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:

Tuna

A saltwater fish that belongs to the tribe Thunnini, a subset of the mackerel family, known for its speed and high-quality flesh.

Pull A Net

A fishing technique involving dragging a net through water to catch fish; can be applied in various scales from small artisanal fishing to large commercial operations.

Behind A Boat

Typically refers to water-based recreational activities where individuals are towed or ride behind a boat, such as water skiing or wakeboarding.

Covert Power

Power that is hidden or not openly acknowledged, often used to influence or control others secretly.