- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
No, you do not allocate any selling price to the loan fees. There would be no gain or loss on this asset and you can indicate it was converted to personal use which should eliminate it from next years return. Since you have fully exhausted the expense there is not need to keep it in the return in the future.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 6, 2024
1:59 PM
2,165 Views