I attempted to refinance a (CA) rental property in 8/2016. The refinance failed but I incurred a $700 appraisal fee and $150 condo cert fee. Is any of this deductible?

brian1651 · ‎May 31, 2019

IsabellaG · ‎May 31, 2019

Yes, you can deduct the fees incurred to refinance your rental property even though the loan didn't go through. If you had refinanced, those costs would be amortized over the life of the new loan, but since the loan didn’t go through, you would deduct them in the year you paid them.

https://ttlc.intuit.com/replies/3301761

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

IsabellaG · ‎May 31, 2019

Yes, you can deduct the fees incurred to refinance your rental property even though the loan didn't go through. If you had refinanced, those costs would be amortized over the life of the new loan, but since the loan didn’t go through, you would deduct them in the year you paid them.

https://ttlc.intuit.com/replies/3301761

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

I attempted to refinance a (CA) rental property in 8/2016. The refinance failed but I incurred a $700 appraisal fee and $150 condo cert fee. Is any of this deductible?