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CarrieN
Level 1
March 9, 2021
Solved

How do I remove amortization on previous loan when an income property is refinanced.

  • March 9, 2021
  • 1 reply
  • 5 views
There is remaining amortization on the previous loan to a Schedule E property. It has be refinanced and paid off. How do I expense the remaining amortization?
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Best answer by George4Tacks

Enter a date of sale (but no sales price) to stop the amortization.

Enter the balance of unamortized amount as current year depreciation.

 

1 reply

George4Tacks
George4TacksAnswer
Level 15
March 9, 2021

Enter a date of sale (but no sales price) to stop the amortization.

Enter the balance of unamortized amount as current year depreciation.

 

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