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I have purchased an investment property and I’d like to know if I can add those fees to the cost basis or amortize those fees over the loan duration.
Those are the following fees I paid for when financing the property:
– loan processing
– loan application
– underwriting fees
All those fees appear in the section 800 of the HUD but are non-standard fees.
I read IRS publication 527 but could not find any answer to this question.

Thanks!

2 Thoughts on Can I amortize/depreciate “junk fees” on a mortgage for a rental property?
  1. Reply
    silviya
    April 29, 2011 at 11:21 pm

    The webguide http://mortgagehelp.assistancecenter.info

    has highly useful info on mortgage and home financing.
    You can get all your doubts clarified from the site.
    Check it out. Good luck!

  2. Reply
    stevelarsondirect
    April 30, 2011 at 12:12 am

    Purchase acquisition costs are part of your purchase basis and depreciated ratably to land & building.

    If you have any other questions, or need assistance, please contact me via my website http://www.slarson.com/contact or email me directly at Steve@SLarson.com

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