Sorry these responses didn't address my question. Please reply ..
I don't see the original mortgage costs added to the basis of the property and depreciated over 27.5 years.
For example, my property is $1.1M, the building part of it is $330K, and my mortgage cost is $8K. In the Form 4562, I only see the $330K being depreciated over 27.5 years, and there's no mention of my original mortgage costs.
1) How do i ensure these costs are added to the basis of my property and depreciated?
2) Since I refinanced my original mortgage in the same year (2019), my entire undepreciated original mortgage costs of $8K should be depreciated (expensed) entirely in this year (vs 27.5 year depreciation). How do i enter this in TurboTax so that it ensures this is expensed this year? I understand that the refinancing cost ($3K) will now be depreciated over 30 year amortization schedule, and this is reflected on my Form 4562.
