Residential rental prop- closing statement

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  • Penelope
    Member
    • Mar 2006
    • 51

    #1

    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.
  • S T
    Senior Member
    • Jun 2005
    • 5053

    #2
    Tax Treatment of Settlement Costs

    TTB pg 6-2 has a chart

    Sandy

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    • Penelope
      Member
      • Mar 2006
      • 51

      #3
      Thanks!

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

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