Can I deduct these points ?

From: JEFFREY ALLEN DEVANZO <jdevanzo@welchlink.welch.jhu.edu>
Subject: Can I deduct these points ?
Date: Mon, 15 Feb 1999 10:59:29 -0500 (EST)

Next Article (by Date): Education IRA "Harold R. Justice"
Previous Article (by Date): Chase Manhattan Bank Martin S Turnauer
Articles sorted by: [Date] [Author] [Subject]

Hello to All , 


  We are in the process of selling our house and purchasing a new one. The
question that i have is , If we pay the points for the person who buys our
old house can we deduct the points that we have paid , or is this
considered a "gift". The reason i ask is there are some programs out in
the real estate world that will allow a seller to pay some, most, or all 
of the closing costs, in order to get your house to sell . Any help on
this one will be greatly appreciated for obvious tax rerasons. 


Jeff DeVanzo



- -

Next Article (by Date): Education IRA "Harold R. Justice"
Previous Article (by Date): Chase Manhattan Bank Martin S Turnauer
Articles sorted by: [Date] [Author] [Subject]

Go to Jeff Salisbury LWGate Home Page.