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Mortgage costs amortization

jgcpa100
Level 1

I have been amortizing mortgage costs of a refinance and in current year they refinanced again so I would like to write off the remainder of the mortgage costs still not amortized yet of the old loan.

Where would I indicate this? I tried to put a date of refinance in the date of disposition box but it is still just calculating regular amortization for the current year.

Any advice would be greatly appreciated.

 

Thanks.

 

0 Cheers
2 Comments 2
George4Tacks
Level 15

You need to enter remaining balance as "Current depreciation/amortization (-1=none) [Override]" 


Here's wishing you many Happy Returns
BobKamman
Level 15

What do you mean by "mortgage costs"?  Just points?  Is this a residential or commercial property?  Refinanced with the same lender, or a different one?