Thanks @Mike9241 @Irene2805
On the premiere side of turbo tax when I'm disposing the rental house I get taken to this section where it lists my assets. It lists the house, then a refi in 2016 and another in 2017. I followed instructions from another post in this community where you select Special Handling and it seems to all go well. I'm not sure what to do when I get to the "Depreciation Deduction Amount" section.
"We'll transfer this amount to the correct form for you.
In addition to the $248, you still have an additional $4,765 of refinance fees from your prior loan. You can still use these as an expense for ths year as long as the new loan was not with the same bank as the prior loan. Enter this amount as other expenses for this rental. We can do this in the expense section of interview."
I have 2 options. The first one shoots my refund up so much I'm sure something is wrong. I haven't tried the 2nd option. Neither times I refinance was the lender the same if that matters. I presume I need to pick up my depreciation where I leave off here when I start my Business version process for the 1065. I have not started that process yet.
Options:
Transfer these fees for me to Other Expenses
I'll enter these fees on my own later/ I refinanced with the same lender.
