What kind of investment property is it?? Also, did you pay any closing costs in 2020 or is all your closing costs factored into your payments?
if the costs are factored into your mortgage payment, then no closing costs will be deducted because part of that mortgage interest you pay because those costs are already included in the mortgage balance. However if you prepaid some closing costs separately from your mortgage payment, then say so.
Also, for the piece of property that you declined to buy. Those costs are not deductible because you never retained ownership of the property.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
