1 - Because the TurboTax program has a problem dealing with gains *and* losses on assets from the same rental activity. It tends to really screw up the SCH D and the 4797.
2 - I don't think you mean intangible asset. the correct term for your refi costs is "amortized asset". Remember, capitalized assets are depreciated over time and that depreciation is recaptured upon sale. Whereas an amortized asset is not depreciated - it is deducted over time and there is no recapture. Basically, if you have "in fact" correctly classified those refi fees as an amortized asset, then if they're not already fully deducted, the program will deduct the remaining balance "for you". The trick is, when working through the asset you'll select YES on the "Special Handling Required" screen, so that you're not prompted for sales information on the amortized asset.
