Refinancing a rental
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Can You Write Off Refinancing a Rental?
Short answer: Points and loan costs on a rental refinance are amortized over the new loan's term.
Cash-out proceeds used personally make that interest nondeductible.
Records to keep: Keep leases, receipts, a log of repairs vs improvements, mileage to the property, and closing statements.
BW-B23-00621
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Refinancing a rental
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Real Estate / Landlords / Property Managers / Agents
Insurance & Licenses
Rental Property Write-Offs
Points and loan costs on a rental refinance are amortized over the new loan's term.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Points and loan costs on a rental refinance are amortized over the new loan's term. Cash-out proceeds used personally make that interest nondeductible.
Category
- Rental Property Write-Offs
rental property
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