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Residential rental prop- closing statement

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    Residential rental prop- closing statement

    I'm brain dead. Individual bought residential rental real property and paid closing costs. What must be amortized and what can be taken as current? I'm not sure how the rules differ from an individual's purchase of his own home. Thanks.

    #2
    Tax Treatment of Settlement Costs

    TTB pg 6-2 has a chart

    Sandy

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      #3
      Thanks!

      Couldn't find it, but now I have it. Thanks a bunch.

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