Refinancing & Depreciation

[Becky Watkins]

I refinanced my owner-occupied multifamily rental property last year and now I'm struggling on exactly how to report the closing costs. I have tried researching previous posts and other sources, but I haven't found anything that is directly related (Im not asking about the personal portion, a cash out, etc).

So one thing says to amortize the points, but that's just a small portion. Another thing says to amortize anything that had to do with processing the loan. Another thing said that credit report and appraisal fee doesn't count. 

Also, would it be its own line that starts depreciating as of the date of the refinance (settlement or disbursement date?) or do I add it to the original basis? But what about the years of depreciation that already passed?

And then would the land basis be based on the original purchase date or what the ratio is at the time of the new loan?

Thanks so much. Every year, depreciation is the bane of my existence. I thought I had it under control but then I had to go and refinance. ;)