Investors & landlords

When you enter the new rental into the TurboTax program, the program adds the closing costs to the value of the improvement. 

After you add the original purchase, the refinance is entered under expenses.  The refinance closing fees are also entered.  

If you refinance again, the amortized closing costs for this refinance may be expensed for that year, but the original costs to purchase will always be included in the original basis.