Which of the following is true?a. Points paid to get a mortgage (origination points) are tax deductible while points paid tolower the interest rate are not.b. Points paid to get a mortgage (origination points) are not tax deductible while points paidto lower the interest rate are.c. Both types of points are tax deductible.d. Neither type of points is tax deductible.If the listing realtor and your realtor (you are the buyer) are the same persona. you know you are going to get a great dealb. you do not really know whose interest the realtor has at heartc.this by law cannot happend. you only have to pay half of the realtor's commissionWhich of the following statement is true?a. If you put less than 20% down on a house, you have to get mortgage insurance.No matter how much you put down, if you have a mortgage, you have to get mortgageinsurance.b.c. If you put more than 10% down, you do not have to get mortgage insurance.d. Mortgage insurance from the lender is inexpensive.

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Which of the following is true?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 46P

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Question

Which of the following is true?
a. Points paid to get a mortgage (origination points) are tax deductible while points paid to
lower the interest rate are not.
b. Points paid to get a mortgage (origination points) are not tax deductible while points paid
to lower the interest rate are.
c. Both types of points are tax deductible.
d. Neither type of points is tax deductible.
If the listing realtor and your realtor (you are the buyer) are the same person
a. you know you are going to get a great deal
b. you do not really know whose interest the realtor has at heart
c.
this by law cannot happen
d. you only have to pay half of the realtor's commission
Which of the following statement is true?
a. If you put less than 20% down on a house, you have to get mortgage insurance.
No matter how much you put down, if you have a mortgage, you have to get mortgage
insurance.
b.
c. If you put more than 10% down, you do not have to get mortgage insurance.
d. Mortgage insurance from the lender is inexpensive.

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