The property was acquired in July 2018 and put into service as a rental property that same month.
The acquisition financing loan was refinanced with a different lender in February 2020, which means the undepreciated loan costs could have been expensed on my 2020 return.
However, I didn’t realize that I could expense those costs until this year and so they depreciated for the additional year of 2020 as well and the undepreciated amount is now a little lower than it would have been in 2020.
