Thanks for that reference. Will come in handy I'm sure. The wording of that is rather skewed. It states "If these costs relate to business property, items (1) through (3) are deductible as business expenses. Items (4) and (5) must be capitalized as costs of getting a loan and can be deducted over the period of the loan"
In my opinion (and we all know what opinions are like.) it would provide better clarity if that part read, "...myst be amortized as costs of getting a loan and can be deducted over the period of the loan"
I say that because defining capitalized assets as those items that get depreciated, and amortized assets as those items that get deducted, significantly reduces the chance of misinterpretation or misunderstanding.
