Get your taxes done using TurboTax

You should be posting this to step by step, but if you posted it to the form I don't want it duplicated.

If you have not posted it.  Go to:

TurboTax CD/Download

1. Click on Business > Continue >
2.  I'll choose what I work on   [In Premier:  Federal taxes > Wages & Income]
3. In the Rental Properties and Royalties section click on the Start/Update box.
4. On the Income from Rentals or Royalty Property You Own  screen, click Yes.
5. If you have already started adding information about your rental, you will come to the Rental and Royalty Summary screen.  Click on the Edit box next to the property. 
6. If you haven't yet entered rental/royalty information, continue through the screens, entering the requested information.
7. You will come to the screen, Review Your [property address] Rental Summary. 
8. Click on Start/Update in the Rental Income section.  Continue through the screens to enter the income.
9. When you have finished entering the income, you will be brought back to the Review Your [property address] Rental Summary so you can enter other categories such as expenses, vehicle expenses, depreciation, etc.

You can post all of the closing cost deductions directly as expenses.

When you go through the interview, you will come to Review Your (Property) Summary

You can select Expenses and post the closing cost expense.