Am using Turbo Tax Premier 2024. Purchased a very distressed uninhabitable propery May 2023 (Cash) and then Financed a Home Improvement Loan July 2023. Both events came with significant closing costs including inspections, appraisal, tile insurance fees, attorney's fees etc. I have two closings related to this one property. Spent over $100,000 in repairs and make ready before listing for sale or Lease Oct 2024. Leased Jan, 2025. No rental income in 2024. Have about $2000 in expenses after Oct 2024 (after listing) for landscaping, fencing, etc. This version of Turbo Tax does not seem to allow for any listing and advertising costs, any expenses for insurance, loan interest, permits, inspections, repairs etc. It is very restricted. It also does not have a schedule for any accelerated depreciation. It appears Turbo Tax is cutting corners and is taking all expenses (except some depreciation and travel) and lumping it into "Cost Basis". This contradicts with tax advise I am getting from others and AI models. Am I not allowed to deduct any funds for two closings, insurance, interest, fees, taxes, etc?
