Discussion:UNUSED AMORTIZATION

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Discussion Forum Index --> Basic Tax Questions --> UNUSED AMORTIZATION
Discussion Forum Index --> Tax Questions --> UNUSED AMORTIZATION

Leslie1983 (talk|edits) said:

11 March 2008
I have a rental property which sold. There was unused amortization left on it (settlement charges). Do I add the unused portion to the basis of the property or write it off on the schedule E - it sold in June? Or something else.

Xyzco (talk|edits) said:

11 March 2008
you expense it if you've paid off the related loan.

TexCPA (talk|edits) said:

11 March 2008
follow this link

[[1]]

Xyzco (talk|edits) said:

11 March 2008
Note, I'm referring to settlement charges related to the acquisition of a loan on the rental property.

Leslie1983 (talk|edits) said:

11 March 2008
Thanks - great help

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