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- Closing costs on home office---can costs to get loan be amortized like on Business property?
Closing costs on home office---can costs to get loan be amortized like on Business property?
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Golfer2016
Level 2
10-14-2020
09:56 PM
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I have a client that bought a new house and has a home office. Can his closing costs that are used to get the loan (credit report, appraisal fees, etc) be amortized over the loan? this is how it is for business property so I wasn't sure if I could take a percentage.
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1 Comment 1
qbteachmt
Level 15
10-15-2020
11:51 AM
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We should start with...What is the entity type? What is the business activity, and is this going to be the place of business, or is there a business location where the business gets done? In other words, does this even meet the requirement of Home Office?
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