If you discover an error in the H&R Block tax preparation software that entitles you to a larger refund (or smaller liability), we will refund the software fees you paid to prepare that return and you may use our software to amend your return at no additional charge.Additional fees apply for tax expert support.Additional terms and restrictions apply See Guarantees for complete details. It does not provide for reimbursement of any taxes, penalties, or interest imposed by taxing authorities and does not include legal representation. Free Worry-Free Audit Support is available only for clients who purchase and use H&R Block desktop software solutions to prepare and successfully file their 2022 individual income tax return (federal or state).The amount shows clearly as points on your settlement statement.The points were computed as a percentage of the principal amount of the mortgage.You used your loan to buy or build your main home.You didn’t borrow funds from your lender or mortgage broker to pay the points.The funds you provided at or before closing, including any points the seller paid, were at least as much as the points charged.Ex: appraisal fees, inspection fees, title fees, attorney fees, or property taxes The points you paid weren’t for items that are usually listed separately on the settlement sheet.This means you report income in the year you receive it and deduct expenses in the year you pay them. You use the cash method of accounting.The points you paid weren’t more than the amount usually charged in that area.Paying points is an established business practice in your area.Your main home secures your loan (your main home is the one you live in most of the time).To deduct prepaid mortgage interest (points) paid to the lender if you must meet these qualifications: The only tax deductions on a home purchase you may qualify for is the prepaid mortgage interest (points). Unfortunately, most of the expenses you paid when buying your home are not deductible in the year of purchase. As a newly minted homeowner, you may be wondering if there’s a tax deduction for buying a house. For most people, buying a house is a huge financial step with lots of associated costs.
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