How do I remove amortization on previous loan when an income property is refinanced.

[CarrieN]

There is remaining amortization on the previous loan to a Schedule E property. It has be refinanced and paid off. How do I expense the remaining amortization?

[George4Tacks · Accepted solution]

Enter a date of sale (but no sales price) to stop the amortization.

Enter the balance of unamortized amount as current year depreciation.