01-22-2004, 07:53 AM
| |||
| |||
 Re: Cost basis of home after refinancing shrestha wrote: - quote - > I started renting my personal residence in year 2003. Turbo
The so called "settlement costs" pertain only to the> tax is asking me to input settlement cost when I bought the > home to figure out the cost basis of the home. Can I also > add settlement cost when I refinanced the loan? They are > basically the same cost. purchase of the house, and not the obtaining of the mortgage, except for points of course. Any re financing costs are not part and parcel of basis. Cheer$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
01-21-2004, 12:30 PM
| |||
| |||
| Cost basis of home after refinancing I started renting my personal residence in year 2003. Turbo tax is asking me to input settlement cost when I bought the home to figure out the cost basis of the home. Can I also add settlement cost when I refinanced the loan? They are basically the same cost. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| basis, cost, home, refinancing |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Cost Basis of IRA Pleonasm: Microsoft Money 2005 Deluxe appears to add reinvested dividends and capital gains to the initial purchase price of a mutal fund when computing the... | Microsoft Money | 1 | 01-17-2005 03:30 PM | |
| IRA Cost Basis Tom: I established a new Money (2004) account to track an IRA. How do I set the cost basis of the account (without entering all of the transactions... | Microsoft Money | 2 | 08-06-2004 08:53 PM | |
| cost basis/avg cost per share David: I've got 2 accounts (mutual funds) set up under a single financial institution. In Portfolio, using Valuations view, Money calculates the cost... | Microsoft Money | 2 | 03-03-2004 11:00 AM | |
| cost basis/avg cost per share David: I've got 2 accounts (mutual funds) set up under a single financial institution. In Portfolio, using Valuations view, Money calculates the cost... | Microsoft Money | 1 | 03-01-2004 11:26 AM | |
| Re: cost basis Cal Learner-- MVP: In microsoft.public.money, - Bobb - wrote: >Accounting aside, (since it's in my IRA account), any way to easily do this >? >I buy $25,000 of... | Microsoft Money | 1 | 07-27-2003 02:38 PM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
