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Level 2
August 5, 2021
Question

Where do I post refinance cost on rental property?

  • August 5, 2021
  • 2 replies
  • 12 views

Where on the rental property schedule E do I enter refinance costs fees?

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2 replies

Just-Lisa-Now-
Intuit Community Champion
August 5, 2021

Enter them on an asset worksheet, Amortizable Intangibles Code L, I use IRC 446 (most loan fees), then scroll all the way down to the bottom of the worksheet and input the length of the loan.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
crgw2015Author
Level 2
August 5, 2021

Thank you for your answer.   I am going to try that.  I live in California.   Northern California.

My name is Cathy

Than you 

Just-Lisa-Now-
Intuit Community Champion
August 5, 2021
Im in NorCal, Sonoma County!
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
abctax55
Level 15
August 5, 2021

And don't forget about the prior capitalized loan fees (if there were any, and if the refi is with a different lender...)

HumanKind... Be Both
Just-Lisa-Now-
Intuit Community Champion
August 5, 2021
I wish PS had an easy one click option to expense those old ones!
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪