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Financial Planning / Tax Strategies


Subject:  Re: Rental Property Refinance Date:  11/7/2003  6:46 PM
Author:  ptheland Number:  67456 of 127753

What items, if any, are deductible in conjunction with the refinance?

Immediately deductible? Nothing, other than the interest that is prorated on the two loans. OK - any property taxes that might be paid through the closing process would be deductible also.

Pretty much everything else must be amortized over the life of the loan.

And a bonus caveat: If you get cash out of the refinance, all of your interest expense on the loan might not be deductible. It will depend on how the proceeds are used.

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