Rental Depreciation and Refinance - Posted by Ed

Posted by Frank Chin on March 07, 2004 at 04:47:42:

Ed:

It has no affect on the depreciation of the building.

But you have to do this:

1- Capitalize, and amortize the closing costs of this loan.

2- Writeoff the balance of the original closing costs.

Frank Chin

Rental Depreciation and Refinance - Posted by Ed

Posted by Ed on March 06, 2004 at 21:20:03:

We have been depreciating a rental for a few years. 2003 we refinanced, pulled money out and now have a bigger loan. Does this affect our depreciation? Does this change our basis?