Rules of the internal revenue service concerning the deductibility of points on a mortgage DO NOT include, A for a buyer to deduct points the seller paid to reduce his cost basis B Points paid to refinance the property to be fully deductible in the year paid C points paid by the seller to be considered a selling expense D points to be deductible as interest to be paid directly to a lender
Rules of the internal revenue service concerning the deductibility of points on a mortgage DO NOT include, A for a buyer to deduct points the seller paid to reduce his cost basis B Points paid to refinance the property to be fully deductible in the year paid C points paid by the seller to be considered a selling expense D points to be deductible as interest to be paid directly to a lender
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 1
Rules of the internal revenue service concerning the deductibility of points on a mortgage DO NOT include,
A for a buyer to deduct points the seller paid to reduce his cost basis
B Points paid to refinance the property to be fully deductible in the year paid
C points paid by the seller to be considered a selling expense
D points to be deductible as interest to be paid directly to a lender
question 2
which of the folloeing would actually be included in an annual property operating statement of a potential real estate investment
A economic base analysis
B managment fee
C comparative market analysis
D investor`s earning potential
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