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wwwquester
New Member

Where can I enter the rental property mortgage refinance points?

I can't find the place to add the rental property mortgage refinance points. The amortization period is over the duration of the loan and is different from the usual period for the property. The guidance mentioned "You will enter code section 163", can't find the place to enter this information.

2 Replies
PaulaM
Expert Alumni

Where can I enter the rental property mortgage refinance points?

Enter rental points as an Intangible Asset in the Asset/Depreciation section of your rental property. Enter the Points as a description, costs and the date. Enter the asst as 'new', then select code 163 from the drop down. 

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Carl
Level 15

Where can I enter the rental property mortgage refinance points?

Click the "Add an Asset" button.
Select Intangibles, Other Property and continue.
Select Amortizable Intangibles and continue.
Label it Refi Cost, enter the amount, enter the closing date, then continue.
Select Purchased New, and YES, used 100% for business, then continue.
Select "163 - Loan Fees" from the drop down menu, then continue.
Enter the length of the loan (property 30 for 30 years) and continue.
That does it.

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