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gbgrtt
New Member

I refinanced a mortgage loan in the second half of 2016. The bank back dated the loan to Dec 1, 2015 closing date to accommodate a lower interest rate.

Can I take my appraisal expenses off for tax year 2016?
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Coleen3
Intuit Alumni

I refinanced a mortgage loan in the second half of 2016. The bank back dated the loan to Dec 1, 2015 closing date to accommodate a lower interest rate.

Appraisal expenses are not deductible for a re-finance of a loan. Only the mortgage interest, property taxes and amortized points are deductible.

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3 Replies
Coleen3
Intuit Alumni

I refinanced a mortgage loan in the second half of 2016. The bank back dated the loan to Dec 1, 2015 closing date to accommodate a lower interest rate.

Appraisal expenses are not deductible for a re-finance of a loan. Only the mortgage interest, property taxes and amortized points are deductible.

gbgrtt
New Member

I refinanced a mortgage loan in the second half of 2016. The bank back dated the loan to Dec 1, 2015 closing date to accommodate a lower interest rate.

This is for a rental property.  Does that make a difference?  Can I deduct the expense?
Coleen3
Intuit Alumni

I refinanced a mortgage loan in the second half of 2016. The bank back dated the loan to Dec 1, 2015 closing date to accommodate a lower interest rate.

Sorry, no.

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