No. Some of the expenses you listed are not part of the cost of the property.
What about % of Loan Amount (Points), Prepaid Interest, Homeowners Insurance? Do any of these get included?
- No, these charges do not get included in the cost of the rental property. The points are amortizable over the life of the loan for rental property. If you later refinance with a different lender then you can deduct the remainder of the points at that time. If you should refinance with a different lender then the points remaining get added to any additional points and are amortized over the life of the new loan.
Your Lists that represent the amounts you paid (not lender):
Abstract and Recording Fees - These fees are added to the cost of the rental property.
Legal Fees, Title Search, Document Prep - These fees are added to the cost of the rental property.
Title Insurance - Owner's Title Insurance Only
Transfer of Stamp Taxes - Added to the cost basis of the property.
@thughesga
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