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Matthew purchases a new principal residence in 2012 and pays points of $2,000 to obtain a mortgage loan. What is the proper tax treatment for the points paid?

a. The points are a nondeductible personal expense

b. The points must be amortized over the life of the loan

c. The points must be amortized over 5 years

d. The points must be capitalized into the cost of the residence

e. The points are fully deductible in 2012

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