Hello Gurus,
My original investment loan #1 from 2010 was sold off to Chase bank after the 2nd month of business rental use.... I refinanced a new loan #2 (cost $4,200) with the same original lender in 2019.
Questions: Since the original loan was sold to Chase, can I retire the loan fees this year on loan #1 ($3156 left) OR do i need to rollup and combine the new loan #2 fees ($4,200) into loan #1 and amortize again over 30 years ($3156+4200) because it happens to be the same original lender?
If it is the later, I should still retire the current loan fees and enter a new intangible asset for $7356 over 30 years?
Other Info:
Loan amount is the same.
Property was always a rental - never converted to personal use
