@xmasbaby0
How does this apply to commercial real estate purchase for my business?
Do I have to capitalize the following costs?
- Inspections / Appraisals / Environmental Report Fees
- Loan fees: budget review fee, application fee, commitment deposit
- Architectural services
- Life Insurance (required by lender)
- Legal fees associated with negotiation of purchase
It would be much better for me to be able to expense the above costs and capitalize the actual building purchase (loan + downpayment + closing costs). This is my first time going through this process with a new building - thanks for your help!
