None.

Same as for a nonreverse mortgage.

What fees were charged?  "Loan origination fees" ?  (Points)

Hi,

Origination fees and mortgage insurance premiums.  There was no cash out received on this, we had to pay money in to close.

Thanks for any guidance!

Lisa

Do you get to deduct any of those with a regular mortgage?

If the "loan origination fees" are a percentage of the loan amount, they are "points."  

In general, points  to refinance an existing mortgage, or paid on loans secured by your second home are deducted ratably over the term of the loan.

The question, of course, is what is the term of the loan.  Life expectancy?  Why not?  But I doubt few people old enough for a reverse mortgage, so without annual interest deductions, would be itemizing.  Unless they have high medical expenses, which usually means a move to a nursing home, so the place is sold.  

To be perfectly clear, the majority of costs associated with obtaining a reverse mortgage, such as origination fees and closing costs, are not tax deductible. The only deductible part is the interest, but only if and when you pay it, which ordinarily happens when you repay the loan after you either move out or die. The Internal Revenue Service considers it differently than usual mortgage interest, so it’s a good idea to accurately track the interest you can possibly deduct. Based on my research this guide on reverse mortgage interest deductions quite helpful to assist me in determining which interest can be possibly deducted and which interest cannot be deducted.

Not the first time someone has tried to spam that website

@BobKamman , do you mean someone who coincidentally signed up in this forum same day, and posting a link to another website? 🤔

You have to post at least 50 times before you are allowed to spam this place.  I believe it is somewhere in the written rules of the community.

I am not sure why you are thinking that my posts are spam. While I do not use the community frequently, I have been a tax preparer since the 1994 filing year.

They were not referring to you but instead to diyamirez who tried to hijack your question just a few days ago.

Copy that.  Thanks!  Have a great day!