I have refinanced my primary home and am wondering which tax year I may deduct allowable closing costs. The closing date of the loan was December 27, 2012. Because of the required 3 day rescission period, my ability to rescind the loan is up at midnight on December 31, 2012. Funding of the loan and cashing of the check used to pay closing costs will not occur until January 2, 2013. What tax year will my allowable closing costs be deductible in - 2012 when all loan documents were signed or 2013 when the funding of the loan happened? I was hoping for the deduction in 2012...