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Amortized loan aquisition costs for tax return
I'm trying to do my 2015 taxes. I bought my very first two rental properties towards the end of 2015 so I have no previous experience with this.
From what I understand, loan origination costs cannot be included in the basis of a rental property nor can they be deducted in the year incurred but instead must be amortized over the life of the loan. That seems fairly simple.
Yet I cannot for the life of me find where I'm supposed to enter this in my tax software (H&R Block Premium) or directly on a form. (I thought Form 4562, Section VI might be it but the description of what to record there does not include loan origination costs.)
I've entered the basis and it's calculated the depreciation but it doesn't ask for loan origination expenditures or anything to be amortized.
Can anyone offer some guidance?
Thanks,
Wayne