See Special Enrollment Exam Quiz
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SEE PART 1: INDIVIDUALS
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On January 1, 2025, a taxpayer took out a new $300,000, 30-year mortgage to refinance her principal residence and paid $6,000 in points. $50,000 of the new loan proceeds was used to add a room to the home, and the balance paid off the prior mortgage. She itemizes and otherwise satisfies the requirements for currently deducting points paid on acquisition indebtedness.
What amount of the points may she deduct on her 2025 Schedule A?
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