I have entered a contract to buy an investment property. It has passed attorney review. Afterwards there were a few major problems discovered during home inspection and the seller refused to remediate. So the contract was terminated. During this process, I have spent close to $1000 to cover attorney fee, home inspection and other related expense. How I am going to report these costs in Turbo Tax?
I thought I could use SCHEDULE E but I never owned that property. It seems the form assumes you own the property so many fields do not make sense in my case (e.g., rental days, cost basis, depreciation etc)
Thanks very much
--Larry
