Thank you Patricia.
I'm sorry but I still don't know exactly how to handle this. Let me try and spell it out a little differently:
Home purchased 2006, converted to a rental 2010, converted back to primary residence 2024
Refi #1 2012 (original loan with GMAC and refi'd with GMAC)-TurboTax indicates I have $474 of refinance fees from prior loan (Refi cost =$807, Prior deprec = $317, $16 deprec for 2024)
Refi#2 2015 (refi'd with Capital One)-TurboTax indicates I have $1201 of refinance fees from prior loan (Refi cost = $1738, Prior deprc = $503, $34 deprec for 2024)
In both cases I have the option to choose 1. "Transfer these fees for me to Other Expenses" or 2. "I'll enter these fees on my own later/I refinanced with the same lender.
What do I choose for Refi #1?
What do I choose for Refi#2?
What, if anything, from refi #1 gets added to refi #2 and which of those numbers specifically gets added together?
Thank you so much for the help! This is the first time I have gone through this process.
