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Updated over 1 year ago on . Most recent reply presented by

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Christina Castro
  • Member since Sep 21, 2023
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Christina Castro's profile image
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Christina Castro
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Christina Castro
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Tax, SDIRAs & Cost Segregation

Interest Reserve Journal Entry

Christina Castro
Posted

My client purchased a property via a loan, one of the line items on the settlement statement was for a construction interest reserve amount, $54,800.00. How do I record the journal entry for the interest reserve account upon purchase? Once it money is used, does the interest reserve amount get added to the cost basis of the property? 

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