A taxpayer pays $2,400 in points when taking out a 15-year loan to buy a vacation home. If the purchase of the home takes place on September 1, 2020, the taxpayer deducts $____________ as points on his 2020 Schedule A. Round your answer to the nearest dollar.

Answer rating: 100% (QA)

The term points is employed to explain certain charges paid to get a home mortgage Points may additi... View the full answer