John Smith wrote:

- quote -

spread em out, or as accountants say, "amortize" them over
the life of the loan.

ChEAr$,
Harlan Lunsford, EA n LA

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Amortized over the life of the loan. Any time the loan is
refinanced, one takes the balance of the old points and
starts the new ones in the same way. Sometimes a pain to
keep trank of!

Nan, EA in LA

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John Smith wrote:

- quote -

Amortize over the life of the loan. The deductibility of
home mortgage points is a special case.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Points paid for home mortgage are deductible. What about
points for commercial rental properties? Are they deductible
too? If so, how? One time deductiion or spreading over the
life of the loan?

Thanks.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >