When renting out a coop apartment, my share of the coop's underlying mortgage (as opposed to my own mortgage) is added to my depreciation basis and depreciated. But what about the coop refinance cost? The coop Financial Statements show "Refinance Cost" in the Asset, which is amortizable. Do I get to amortize my pro rata portion of that cost as well?
My rationale is that since I'm allowed to amortized refi cost of my own mortgage, and since I'm required to add my portion of the coop mortgage to the depreciation basis, I should similarly be able to amortize my portion of the refi cost of that coop mortgage. But does anyone have a more definite knowledge?
