Thanks for your amazing detailed response. I wasn't expecting that much but certainly appreciate it. When I mentioned "expenses", I was really referring to items that make up the Cost Basis. I set up the S-Corp to be a real estate investor who flips homes. However, bad contractors lengthened the time to get it done properly. Once the property was sold, that's when I would use all of those items such as points, interest, etc to lessen the capital gain from the sale. This would be filed under the S-corp.
