I refinanced my duplex 2 years ago, I live in one unit and rent out the other. And in that year, Turbotax had me depreciate the points and closing costs. In 2020, I refinanced that same property twice.
Not sure how to 'close out' or complete the original depreciated points, open and close the first 2020 refinance and then open deductions for the most recent refi?
Turbotax Home & Business seems to consider the depreciation as an 'Asset' but don't see a category to complete it, other than 'taken out of service for any other reason' so not quite sure how to enter this. Assuming I deduct the remaining original points/closing costs from original refi, as well as the initial 2020 refi which opened and closed within 6 months.
Help!
Thanks,
Adam
