Open-End Mortgage closing costs

[SFA]

Business client applied for and received an "open-end mortgage" (line of credit). The closing costs for appraisals, legal, etc., were $1,600.00.

Question: If there is no specified loan period, are the closing costs immediately deductible?

 

[Abby Normal]

I wonder if, now that we're expensing 2,500 tangible assets, it follows that we would also expense intangible assets. If you don't expense it, it's 15 years of amortization.