The program is trying to help you. You need to know:
- part of it is deductible now -mortgage interest, taxes, and insurance paid are deductions,
- some of it adds to the basis - the items you listed
- some of it does not count now or at all. Escrowed items will count when they are paid out for those items.
Rental Expenses | Internal Revenue Service
I have highlighted / noted what you need for this year to create your basis or put on your sch E.
Hud#. Description
801 Loan Origination Fee points to deduct this year
803 Appraisal Fee - legal fee
804 Credit Report/Scoring Fee - no, this is related to financing, not purchase
812 Underwriting Fee - legal fee
814 Flood Certification - legal fee
816 Closing Fee - legal fee
901. Per Diem Interest - mortgage interest deducted now
902. FHA MIP Premium - mortgage deduction now
903. Hazard Insurance Premium - insurance premium deducted now
910. Tax Pro Ration
1001. Hazard Insurance Escrow
1004. County Tax Escrow
1012. Aggregate Escrow Adjustment
1101. Settlement or Closing Fee
1109. Title Ins. Lenders Coverage -title insurance
1110. Title Ins. Owners Coverage - title insurance
1111. Endorsement Fees/Premiums
1113. Wire Fee
1201. Recording/Filing Fees - matches A - recording fees
1303. Overnight Mail Fees
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