RaifH
Expert Alumni

Deductions & credits

If the property is your main home or a second home for personal use, refinancing costs are not deductible. One exception is if you paid points. These are considered prepaid interest and are deducted over the life of the loan.

 

If this is for a rental property, you may amortize the refinancing costs over the life of the loan. You would do this by adding them as an intangible asset.

 

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