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Investors & landlords
I think I have found the issue. BTW, this is not an online version. I am using the Turbo Tax Premier CD version.
# - Rental Property #1 was re-financed and I was 100% owner, so Turbo Tax allowed me with a prompt to enter all closing cost.
# - Rental Property #2 was re-financed and I was 50% owner and Turbo Tax DOES NOT allow with any prompt to enter all closing cost.
I am not sure if this is a Turbo Tax issue that for a partial ownership of a Rental Property, you cannot enter re-finance closing cost OR is this a Tax Rule that does not allow you to claim closing cost of a re-fi for a property that you do not own 100% (which Turbo Tax is following).
I did not pay points.
March 3, 2022
10:14 AM