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.

---

Definitions:

Pupil

The adjustable opening in the center of the eye through which light enters, and whose size is regulated by the iris.

Physical Development

The process that starts in human infancy and continues into late adolescent concentrating on gross and fine motor skills as well as puberty.

Advancing Years

A phrase referring to the process of aging or getting older, often associated with gaining experience and wisdom but also facing physical and cognitive changes.

Reaction Time

The amount of time it takes to respond to a stimulus.