- On page 3, the reference provided in the third paragraph under "Payments by Third Party" is updated to include a reference to Notice 2018-63. To the end of the last sentence of the third paragraph, add:
"amplified and modified by Notice 2018-63, available at IRS.gov/irb/2018-34_IRB#NOT-2018-63."
- On page 4, the last Bullet point under "Exceptions" is replaced with the following:
"To acquire a principal residence to the extent the points are allocable to an amount of principal in excess of the amount treated as acquisition indebtedness. Generally, the amount treated as acquisition indebtedness cannot exceed $750,000, but it may be up to $1 million if the borrower entered into a written binding contract before December 15, 2017, to close on the purchase before January 1, 2018, and purchased the residence before April 1, 2018 (the "written binding contract exception"). If you know that the written binding contract exception applies, report points that are allocable to an amount of principal up to $1 million."
- On page 4, the last bullet under "Construction loans" is replaced with the following:
"Are not allocable to an amount of principal in excess of $750,000, or $1 million if you know that the written binding contract exception applies."