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Updated about 2 years ago on . Most recent reply

User Stats

20
Posts
13
Votes
Michael Higgins
  • Investor
  • Alpharetta, GA
13
Votes |
20
Posts

Closing Costs - Tax Question (with a twist)

Michael Higgins
  • Investor
  • Alpharetta, GA
Posted

Cannot find the precise question in the forum so, I will throw it out there.  When we closed this year on a long term rental property (after rehab) we bundled the closing costs into the loan.  Since the closing costs were not out of pocket, how is this handled from an accounting/tax perspective?  Also, part of the closing costs include property tax payment.  So, we are looking for feedback, thoughts and learnings from the forum - and of course we are consulting a CPA.  

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