[magidglove]

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

[MLSNC]

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.

[AtlantaTaxExpert]

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!