PatriciaV
Expert Alumni

Investors & landlords

You are correct that Mortgage Loan Fees are intangible assets. Go back to the Asset/Depreciation topic, delete the second asset entry you made, and re-enter the loan fees in the correct category. 

 

Mortgage points are categorized by the IRS as an "Amortizable Intangible". You will enter code section 163: Loan Fees as the method to amortize these expenses. These fees are spread over the life of the mortgage (ex: 30 years). You will not see the option to choose Sec 179 in this section.

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