IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Mike Hagerty who wrote (612)	12/11/1998 6:28:00 PM
From: Colin Cody	Read Replies (3) of 1383

As mentioned by a couple replies, the OTHER GUY may have his own "tax problems" to deal with. If this is a refinance because he is getting say a lower interest rate on the same amount of money he is paying you off with, then any refinance costs or points are at best, amortized over the life of the new loan. If the old loan being paid off (your loan with him) was amortizing costs, then those cost now become immediately deductible this year under most circumstances. Colin

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