Hello,
I bought a 4-Plex in january 2020. Lived in one unit, rented out the other 3.
Which closing costs can I deduct as rental expenses on my Schedule E, and which should I be adding to my depreciation cost basis?
I paid $5980 in points on this loan, am I correct that I should amortize (not depreciate) this amount separately, using just the rental portion as the basis ($4859), over the next 30 years? I moved out of the 4-plex in October, and began renting out all 4 units, so can I use the $4859 as the basis for this asset in 2020, and then the full $5890 in 2021, or am I missing a step?
Thanks in advance.
