2 homes - points pd deduct in full or amoritize
we own and have lived on a houseboat as our sole residence for the last two years. In Sept of 2008 we purchased a traditional land based house that we are now using as our primary residence with the houseboat as a 2nd home.
Are we able to deduct the points we paid in 2008 for new primary residence or do we have to amoritize them over the length of the loan because it is a 2nd home no matter what designation or primary or 2nd?
If they have to be amortized....what happens if we sell 2nd home (houseboat)??? does the balance of the points continue to be amortized?
thank you for your time