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

CarrieN
Level 1
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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George4Tacks
Level 15

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

Enter the balance of unamortized amount as current year depreciation.

 


ex-AllStar

View solution in original post

1 Reply 1
George4Tacks
Level 15

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

Enter the balance of unamortized amount as current year depreciation.

 


ex-AllStar

View solution in original post