
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: MONDAY, February 14, 1994                   TAG: 9402140338
SECTION: BUSINESS                    PAGE: B8   EDITION: METRO  
SOURCE: Jim Luther/associated Press
DATELINE:                                 LENGTH: Short

CHANGES IN FEDERAL TAX RETURNS.

The lowest interest rates in a quarter century prompted a rush of homeowners to refinance their mortgages last year. Many may be surprised to learn they can't take an immediate tax deduction for the points they paid.

Even so, about 28 percent of all taxpayers still will find it advantageous to itemize deductions, chiefly because most will be able to write off all their home mortgage interest.

See microfilm for rest of graphic's information

Memo: ***CORRECTION***

by CNB