Carl,That makes sense, but at that point aren't ALL costs associated with closing a refi considered "loan costs" since you cannot get the loan without them, and...
Thanks, I've read this publication a few times, however I still don't understand the steps in Turbo Tax to "increase my property's basis".Do I:A) Edit the prope...
I still do not think that is correct. When you refinance a home, there are still fees that are incurred, like these:- Legal fees (including title search and pre...
I'm not sure this is correct for a rental property. You can amortize/depreciate much more than just the points paid. Per IRS Publication 551 (https://www.irs.go...
So, it looks like I need to file Form 3115 to correct the error from the previous CPA, adjusting the depreciation and creating an amortization for the "loan fee...
