USA Short term (6 months) construction loan

L

Lawrence

Joined
Feb 21, 2018
Messages
1
Reaction score
0
Country
United States
Hello,

I have a client that took a 6 months construction loan and paid $7500 in loan fees plus interest.
are the loan fees and interest added to the assets basis? or expense in the current year?
Thank you for you answer!

Lawrence
 
You must log in or register to reply here.

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

USA taxes on Short term rental ownership in Limited partnership 0
Ireland Mgmt Accounting short term decision making 0
USA Recording a short term loan against an endowment - NFP 4
Definition of Short-term debt 0
India Planning to do an basic accounts short term course, which one should i choose? 1
USA How to record long term, and short term deferrred rent liability 0
Short Term Capital Gains Tax Question 1
Using Short Term Capital Losses carry-over 1

Members online

No members online now.
Total: 84 (members: 0, guests: 84)

Forum statistics

Threads
11,776
Messages
27,841
Members
21,815
Latest member
TrustBeneficiary

Latest Threads

Top