Question
Expenses old refininancing fees when rental owner refinances again
I have a individual who owns rental properties. The refinancing expenses from his 2012 refinance are being amortized using an Asset Worksheet. He has now he refinanced in 2021 so I need to expense the remaining expenses from 2012. If I fill in the disposition date, meaning the new mortgage date, that does not do it. When I fill in sales price as zero that works, but it then I get an error when I indicate that the amortization was due to section 461. Any thoughts on what I am doing wrong?
