I forgot to claim my points from a mortgage refi year 2004. Could I file a Amended return 1040X still?

First the bad news - under normal circumstances the statute of limitations would have expired on 4/15/08 - 3 year rule.

But, the points on refinancings are not deductible in a lump sum. You have to allocate the points over the life of the loan, i.e points of $2,400 on a twenty year loan would yield a $10/month deduction or $120 for a year. Therefore, you may be entitled to a deduction in 2008 for a portion of the points. You could amend 2005, 2006 and 2007 for the amortization assuming you did not claim it.

The part about amending 2005 through 2007 is accurate, but amending a return for a $120 deduction MIGHT yield a $30 refund at best.

Hardly worth the trouble In my opinion!