How long do I depreciate home loan closing costs, and refinance expenses for? First mortgage was a 30 year, refinanced mortgage was a 15 year?

[pgdjk]

The only thing you can deduct are points and interest.  You can't deduct the rest of your closing costs (other than real estate taxes or interest).  They are all just personal nondeductible expenses.  If you paid points on your refinancing, you can deduct them over the 15 year life of the loan

[pgdjk]

And if you paid for the points with a check, you can deduct them on this year's tax return.  If they are rolled into the loan, you must amortize them over the life of the loan (both the original mortgage and the refinancing).  If you pay the loan off early, you can deduct the balance of the points at that time.

[sjscanlon14]

I was told by CPA's and EA's from turbo tax that I could? Am I not correct I was sent this for reference?

<a rel="nofollow" target="_blank" href="https://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-Asked-Tax-Question...>

[sjscanlon14]

By the way this is a rental property, I bought my home and from day one rented out 50% of it, just an FYI. Thanks for your help!