Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

1,887
Posts
1,264
Votes
Andrey Y.
  • Specialist
  • Honolulu, HI
1,264
Votes |
1,887
Posts

Deducting my $800 appraisal fee (X2) as an expense for the year

Andrey Y.
  • Specialist
  • Honolulu, HI
Posted

I was just doing my taxes and I realized I had paid for two appraisals ($800 a pop) for two refi's in 2019. Of note, I paid them with a credit card and they didn't appear on the settlement statement at the end.

If I can deduct this as a rental expense, where (what line item) in my taxes should I do so?

Thanks and have a great one and stay safe!

Most Popular Reply

User Stats

1,473
Posts
1,244
Votes
Allan Smith
  • Contractor
  • Nashville, TN
1,244
Votes |
1,473
Posts
Allan Smith
  • Contractor
  • Nashville, TN
Replied

The tax owed going up is very odd. It might be time for a real estate cpa to do your taxes. Only maybe $200 more and they have a lot more knowledge and save you the time of where does appraisal exp go. 

Loading replies...