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On April 1, year 1, Mary borrowed $250,000 to refinance the original mortgage on her principal residence. Mary paid 2 points to reduce her interest

On April 1, year 1, Mary borrowed $250,000 to refinance the original mortgage on her principal residence. Mary paid 2 points to reduce her interest rate from 5 percent to 4 percent. The loan is for a 30-year period. How much can Mary deduct in year 1 for her points paid?

and its not 5000

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