Need help with 1st rental property tax return

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chen1991
Posts: 23
Joined: Tue Mar 20, 2018 9:27 pm

Need help with 1st rental property tax return

Post by chen1991 » Sat Mar 24, 2018 9:54 pm

I just bought my 1st rental property last year and need some help with what costs to file for tax return.

Turbo Tax asking to escrow fees for following categories:
Abstract and recording fees
Legal fees, title search, document preparation
land survey
title insurance
transfer or stamp taxes
expenses you paid for the seller

These are the expenses on the closing summary:
Record deed
record mortgage
mortgage tax
bank attorney fee
HOA questionnaire
flood certification fee
title exam
title insurance (mortgage)
title insurance (owner)
delivery charge
legal fees
application fee
appraisal fee
credit report fee

which categories will the fees on the closing summary fall into? And will I enter other fees under expenses (loan application fee, credit report fee)?

Thanks in advance for all the help!

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