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:

Rib Cage

The set of bones around the chest that protects the heart, lungs, and other organs within the thorax.

Lordosis

The inward curvature of a portion of the lumbar and cervical vertebral column, which can become exaggerated in certain medical conditions.

High Heels

Shoes with raised heels which elevate the wearer's feet significantly higher than their toes.

NSAIDs

Nonsteroidal anti-inflammatory drugs, a class of medications that reduce pain, decrease fever, prevent blood clots, and in higher doses, decrease inflammation.