Can someone direct me to where I can indicate an investment property mortgage has been refinanced? I have remaining amortization expense tied to the loans to deduct.

[brandonmoorere]

Two loans were paid off in 2020 with $2,407 and $4,172 in remaining amortization that had not been deducted in prior years since the loan was originated in 2016. Do you just edit the asset section of schedule E to add an expense?

[Cynthiad66]

Yes.  Edit it to reflect the amounts of unamortized points.

If you pay off a mortgage on which you have been amortizing points - you sell the property or refinance the mortgage with a new lender - you can deduct the amount of “unamortized” points on that mortgage in full in the year of the pay-off. ... There are no points on the refinance.