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Points paid on the purchase of your primary residence are deductible in year paid, when loan closes.
If you refinance there is a whole different set of rule, but being very simplistic, you can only deduct the points of a refinance ratably over the life of the loan starting with the month the first payment is made. If you pay off the loan early, then any remaining points can be deducted in that year unless you refinance with the same lender.
Not really a good way to shelter capital gains. Capital gains rates are so small, I wouldn't try to do something fancy to save a few $$$$.
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