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Investors & landlords
@User ID 912021 If you refinanced with a new lender, you can continue to amortize the remaining amount of amortization costs from the old loan.
From @Carl above:
"If you refinanced with a different lender then the remaining amortized costs on the old loan are fully deductible. Then amortized costs on the new loan are entered as such and deducted over the life of the new loan."
When you Edit your Asset for the old amortization costs and indicate 'Sold' (date of refinance) for $0, the remaining balance will be added to Expenses on Schedule E.
Click this link for more details on Prior Amortization Costs.
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‎February 23, 2021
4:09 PM
1,202 Views