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Points on rental house

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    #1

    Points on rental house

    On a Schedule A, you can add the points to the mortgage interest.

    But what about rental property? I would think the points are just part of the closing costs that add to the basis in the house.

    Any thoughts?

    Linda F
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    #2
    Points

    Points paid on rental property should be amortized over the life of the loan.
    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville

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