I wanted to refinance my rental property, so the bank ordered an appraisal and I paid out of pocket for it. The appraisal didn't come in as high as I wanted, so I backed out of the refinance. Is the appraisal tax deductible in this situation? I didn't get any new loans and everything still stayed the same...
If the appraisal is deductible, what type of expense is it?
