I sold rental property in 2023. I understand the process of allocating sales proceed and sales expenses to land, building, and improvements. However, one of the depreciated items is categorized as "amortization": it is refinancing fees in my case. Does this item get the same treatment as the other tangible assets? Allocate sales proceeds and sales expenses and show a gain? It seems odd that you would "sell" and intangible asset such as this. Thanks.
