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Points and expenses of refinancing are deducted over the life of the mortgage through amortization.
To enter: select to Edit your rental property. When you come to the screen titled, Review Your rental property Rental Summary, click Start/Revisit/Update next to Assets/Depreciation and add your refinancing fees as an intangible asset. The method to amortize these expenses is "code section 163: Loan Fees."
Points and expenses of refinancing are deducted over the life of the mortgage through amortization.
To enter: select to Edit your rental property. When you come to the screen titled, Review Your rental property Rental Summary, click Start/Revisit/Update next to Assets/Depreciation and add your refinancing fees as an intangible asset. The method to amortize these expenses is "code section 163: Loan Fees."
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