Can I deduct mortgage refinance expenses for an investment (rental) property in the year following the refinance action?

[bandpdeal]

I refinanced my rental property in NOV 2016 but failed to deduct the refinance expenses in that year, can I do this on my 2017 tax return I have yet to file?

[IreneS · Accepted solution]

UPDATED FOR TAX YEAR 2019

No - you can't deduct the refinance expenses in the year following the refinance.  You have to include them in the return for the year you incurred the costs.  But you can amend your return for the year of the refinance to include the refi expenses.

For information on deducting costs for refinancing a rental property and amending a return please see the following  FAQs:

• How to amend (change or correct) a return you already filed

• How do I amend my 2019 TurboTax Online return?
• What can I deduct when refinancing rental property? 

[Edited | 4/15/2020 | 12:01pm PDT]