Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
checkerbox
New Member

I paid off my rental property mortgage last year - is that considered a refinance? where can i deduct transaction fees and recording fees?

 
1 Best answer

Accepted Solutions
DianeW
Expert Alumni

I paid off my rental property mortgage last year - is that considered a refinance? where can i deduct transaction fees and recording fees?

The transaction fees and recording fees can be deducted on your rental activity.  It is a refinance only if you took out another loan to pay off the first mortgage.  If you have a refinanced loan for your rental house use the information here to assist.

View solution in original post

1 Reply
DianeW
Expert Alumni

I paid off my rental property mortgage last year - is that considered a refinance? where can i deduct transaction fees and recording fees?

The transaction fees and recording fees can be deducted on your rental activity.  It is a refinance only if you took out another loan to pay off the first mortgage.  If you have a refinanced loan for your rental house use the information here to assist.

View solution in original post

Dynamic AdsDynamic Ads
Privacy Settings
v