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Level 5
June 18, 2020
Question

refinanced commercial property closing costs

  • June 18, 2020
  • 1 reply
  • 14 views

When a commercial property is refinanced are the settlement fees deducted over the life of the loan or over 39 years nonresidential property.

Thank you

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1 reply

abctax55
Level 15
June 18, 2020

Life of loan. 

HumanKind... Be Both
LSTAXAuthor
Level 5
June 18, 2020

Thank you  As a follow up, that would mean that closing fees for residential rental are life of the loan as well, and we don't use 27.5 or 39 for closing fees?  Office in home though I heard you use 39 years because the home office is non residential business property.