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Refinance of Rental Property

Hi, Thanks for your response back on the 7th.

And thanks to everyone who responded. Everyone is getting a little of everything mixed in together.

We all agree that points on a rental property have to be amortized over the life of the loan, usually 30 years (360 months).

I do know that loan costs are not deductible, but the escrow and title fees are. I have seen my colleagues amortize the escrow and title fees over 30 years and I have had discussions with other ones who say that the escrow and title fees should be added to the basis of the property.

So in my original question for 2004 I had set up the depreciation schedule for the building and then took the escrow and title fees (excluding expenses such as taxes and interest) and set them up to be amortized for 30 years. In 2005 my client refinanced the rental and I set him up with a new amortization schedule for the new points and new escrow, title fees. I assume I will write off the remaining old escrow, title fees from 2004 or maybe I should just start adding these costs onto basis of the property.

Anybody know for sure?

SEE vs. EA

I cant figure out what the difference is.. help ! Faith Maciver

Hey Mike

Sometimes a question is so vague a real answer can't be given. If the poster would clarify his question then an intelligent answer could be given.

Othertimes I am just trying to lighten up things - tax season is so stressful.

Hope that answers your questions.


s corp and additional paid in capital


I was hoping you could help with this question:

As an owner of an original S-corp., instead of loaning the company money, can I put the additional cash in and include it under additional paid in capital? When the company starts to generate more cash flow, can I take withdrawals from the additional paid-in capital without tax consequences so long as I have sufficient basis? I don't want to have to loan the corp. money and then get charged the interest, although it is a deduction for the company.

I left it on the forum but thought maybe direct access might be faster.

Any help would be greatly appreciated.

regards, trang


Hi Trang,

I used to consider that all the money that went into an s-corp was your money, but it is a lot more complicated than that, so I would ask Riley2 in this.....


Minimum Tax Credit

I read your comments on another amt question and would appreciate your thinking on this situation...

I have a married couple (filed MFJ 2007) who gets a $400 min tax credit for 2008 when filing MFJ. If I look at filing them separately, the software calculates a credit for each them which totals over $4,000. Their prior year amt was $6500, which was largely due to exclusion items.

I have checked the 8801's and instructions and all appears correct. It just doesn't seem right for them to be able to recoup most of their 2007 amt for exlusion items just because they filed MFS...Am I missing something? I can't seem to find anything specifically addressing this in any of the references...

I'd appreciate your comments.


A. Sullivan, CPA Sullivancpa 13:16, 25 June 2009 (CDT)

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