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Tax Code for Amortization of Refinance Cost on Rental (Form 4562)
Doing my taxes using Taxact and need some help with figuring out the Amortization code to put to account for refinance costs associated with of one of my rental property.
Researched and found that the refinance costs can be Amortized so entered the data in taxact software but there is a field to enter the amortization tax code. Reviewed IRS 4562 instructions but it is not very clear. Researched online but found conflicting or outdated information hence reaching out to forum. Thanks in advance.