rental refi loan costs

[rbt1219]

I paid $500 in late 2020 as an application fee to refinance a rental property. The loan will not close until January 2021. I had planned to amortize all points and refi fees over the 15-year loan life on this year's return if the loan had closed in 2020. Do I amortize the $500 on this year's return, or do I put it into some temporary asset account? Thanks

[M-MTax · Accepted solution]

I'd start amortizing now......it's not going to make much of a difference either way given the amount.