No, refinancing the property does not constitute a sale and repurchase.
The following closing costs can be deducted (amortized) over the life of the new mortgage:
- Points
- Loan origination and loan assumption fees
- Mortgage insurance premiums
- Application fees
- Credit report fees
- Appraisal fees (if required by the lender)
See What can I deduct when refinancing rental property? for instructions.
