Stockmoose16
Returning Member

Deductions & credits

I'm very confused. You're saying I can deduct certain closing costs on my 2020 returns, but then you say I can't do it on my Federal taxes. Well then how am I deducting them? Where do they go in TT? I have no income on the property in 2020 since I didn't own it until 2021.

 

Also, I looked at another property that I backed out of last minute, but incurred appraisal and inspection fees. Where do I deduct those expenses?

 

Thanks.