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barbgreenx
Level 3
February 26, 2026
Question

loan payment paid at closing

  • February 26, 2026
  • 4 replies
  • 18 views

Hello everyone, hope that you are all having a great year!

My Client sold her residential property in 2025. She paid the balance of the refinance loan

at the closing. How is this treated? Is this considered an expense when completing the 

4797. Please help

Thank You

Barbara

 

4 replies

IRonMaN
IRonMaN
Level 15
February 26, 2026

It's a non-factor.  She just took some of her sales proceeds and paid off existing debt.  

Slava Ukraini!
    dascpa
    dascpa
    Level 11
    February 26, 2026

    Agreed, non-factor. This is a reduction of a balance sheet debt, not a P&L item, except for any interest paid.

      ljr
      ljr
      Level 9
      February 26, 2026

      loans/mortgage balances are not used in the calculation of gains or losses on the sale

        BobKamman
        BobKamman
        Level 15
        February 26, 2026

        Had she been amortizing points and other refinance costs?

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