Okay, I do have form 8582 in my return. Going through it, it states that all losses were allowed for this year. Did not use for personal purposes.
After some more digging, and research, what I found was that these expenses must be amortized, and the best answer I could find for how long is over the life of the mortgage:
What can I deduct when refinancing rental property... (intuit.com)
Sorry, not trying to stir up a hornet's nest or anything. Just wanted to put out this info, and get your take on it.
When it came to TurboTax, turns out TT never inputted the information into my Schedule E data to depreciate it. I contacted TT, and spoke with one of the tax advisors, and we had to enter it as an additional asset to the property in question (classified as Intangible, Other Property/Amortizable Intangibles). I inputted the total value of the expenses under "Cost", "Date Purchased or Acquired" as the start date of the new loan. For Recovery Period, I put the life of the mortgage.
