Hi. In 2014, I refinanced my rental property but forgot to set up amortization schedule and thus have not written off any of the fees. In 2020, I refinanced again and just now found that mistake. Total fees from the 2014 loan were $3,000 ($100 per year) and at this point I figure that still have 23 years left on that loan and was going to accelerate the amortization and write off the remaining balance of the approx. $2300 (23*100). Does that seem appropriate? As for the deduction that I lost for years 2014 – 2019, I don’t believe that it is worth refiling those tax returns. (Basically water under the bridge). Appreciate the help.
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