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suehwithu
Returning Member

What should I do if I don't have closing disclosure or HUD-1 for my rental property?

It was my first year renting the property that I have been lived. I don't have closing disclosure or HUD-1 for the property but need to enter some information for Rental Property Deductions
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5 Replies
Carl
Level 15

What should I do if I don't have closing disclosure or HUD-1 for my rental property?

When did you originally purchase the property? If you don't have the HUD-1 you were provided at the closing when you originally purchaed it, the lender will have a copy of the HUD-1. Sometimes your local jurisdiction where the sale/purchase was recorded will have a copy too. Expect to pay a fee.

 

suehwithu
Returning Member

What should I do if I don't have closing disclosure or HUD-1 for my rental property?

I purchased it in 2016 and then lived there until 2021. I purchased a new house last year and moved out and rented the first property. I believe the lender provided a closing disclosure back in 2016 but I don't have it right now. Can I still request it to the lender? 

What should I do if I don't have closing disclosure or HUD-1 for my rental property?

Contact your realtor and/or your closing agent/attorney for a copy of the HUD statement.

Carl
Level 15

What should I do if I don't have closing disclosure or HUD-1 for my rental property?

Can I still request it to the lender?

Sure you can. They may charge a small copying fee though.

 

What should I do if I don't have closing disclosure or HUD-1 for my rental property?

you might have this question. the basis for depreciation is the lower of the purchase price or Fair Market Value when converted to rental in 2021.  in addition, the portion allocated to land is not depreciable.

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