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Deducting real estate appraisal fees?
jjk0423
Jun 16, 2009, 10:17 AM
Real estate appraisal fees to obtain a new loan secured by the property. Will the appraisal fees get amortized over the life of the loan?
AtlantaTaxExpert
Jun 16, 2009, 01:27 PM
Yes, but ONLY IF the property is a rental or commercial investment property.
If it is a personal home, then the appraisal fees are NOT deductible, either as an immediate expense or as an amortized expense.