[net.taxes] Under what conditions will the IRS allow house closing points as an interest deduction?

khw@drutx.UUCP (WilliamsonK) (03/06/85)

Can anyone tell me (by mail) what conditions must be met for the IRS to allow
as an interest deduction the points charged by a bank at closing for the
purchase of a house.

I have heard that in the past when auditing a return that they have disallowed
this deduction, unless certain technicalities were taken care of.  I want
to know what all these technicalities are.

		Thanks in advance,

		Karl Williamson
		ATT ISL Denver
		ihnp4!drutx!druxo!khw
		303-538-4583