Thank you so much @Opus 17 . This was incredibly helpful.
Do you happen to know if the same "proportioning"/tracing rules also apply to the closing costs (Loan origination fee, Appraisal fee, Title insurance, Transfer taxes, etc.)? Or are those wholly deductible? I understand they would need to be added to the cost basis of the property and ultimately amortized and applied as a depreciation, but would I need to first reduce the amounts per the Acquisition Debt vs Total Debt ratio, like the Mortgage Interest?
I can not find any information from Publications 535 or 936 and Turbotax does not cover this aspect in their "Refinance Expert Tool".
