Carl
Level 15

Investors & landlords

It was your use of the word "depreciation" that threw me off. Your financing fees are not capitalized and depreciated. They're amortized and deducted.

At this point, you're only talking about one tax year (2019) on the financing fees for the old loan. Just leave it alone and work it through using the guidance I provided earlier, so you can go ahead and deduct the rest of them on your 2020 return.