Entering "escrow fees" on a rental (HUD vs Closing Cost Disclosure)

[ECS80]

I'm stuck on entering "escrow fees" for my rental. The directions state to look at Section L of my HUD-1, but Closing Costs worksheets replaced HUDs in 2015 (depending on the type of mortgage). So, none of the line items or item descriptions listed on the Turbo Tax entry lines match what's on my closing costs worksheet. 

Seeking guidance for what the comparable items are on HUD vs Closing Costs. 

Thanks!! 

[Carl]

I wonder if the wording may be confusing. Most likely you have an ALTA statement. There are four versions. See https://atgtitle.com/what-alta-statement-is-how-it-works/ to see if that helps you understand.

Escrow fees are not a deductible expense, and never have been. That's money that goes into a separate account (an escrow account) for things like property taxes and insurance. It's not deductible until the tax year that money is used to pay something that *is* deductible - such as property taxes.
If you closed on the purchase in 2023, then any property taxes you paid at closing are deductible as such, and that's pretty much it.

If this was business property you closed on (such as a rental) then in addition to property taxes, the property insurance is also deductible - provided it remained a rental or became a rental on the closing date.

But for any of it to be deductible, it must be indicated as paid in 2023 on your closing statement - be it a HUD-1 form or an ALTA statement.

[ECS80]

 What I have is a closing disclosure, not an ALTA.

As far as escrow fees not being a deductible expense, I am typing it just as it appears on the entry page:

1. Escrow fees from your closing documents (like a HUD-1 settlement statement)

Since posting the question, and searching these forums, I've seen many many posts on this same topic, with no one being able to provide a succinct answer. Seems like an update is overdue on Turbo Tax's part! 

[Carl]

Since posting the question,

Can you provide a screen shot? Ensure that you don't expose any personally identifiable information in it.

I get the impression you may think I work for TurboTax or have some kind of influence. Unfortunately, neither is true. I have been stating to the moderators for years about this, and many, many other things that are outdated and some even flat out wrong, to no avail. So I gave up.
Just understand that "escrow fees" included as a part of your payment or on your closing statement is money that is placed into a separate account for things like property taxes, when they come due to your taxing authority. The money in the escrow account is your money, and it remains your money until such time the escrow account manager distributes it to pay property taxes and other things. The money is not tax deductible until such time that it is used to pay a tax deductible expense with.
There was a time where I could tell by looking at symbols in your initial post, what version of the program you were using and if it was desktop or online. Apparently, that feature is no more.
My "wild guess" is that the program may be asking for this, so that it doesn't get included in your cost basis of the property. But that's just a guess at this point.

[ECS80]

"I get the impression you may think I work for TurboTax or have some kind of influence."

What? No such thought. 

I understand what an escrow is. Thank you. 

Here is a link to a similar question, with a screenshot of the fields I am referencing. Scroll down a bit into the comments and you'll see where user: macquelm posted a screenshot. 

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/closing-disclosure-vs-hud-1/00/1...

[Carl]

I see now. Appreciate the clarification, as that helps a lot. I've never seen those particular expenses referred to as "escrow fees". I've seen them referred to as "closing costs" or something like that. On the HUD-1, those expenses are clearly spelled out. Without seeing what you got for a closing statement, there's really nothing I have to offer. I can only suggest you get with the title company or whoever handled your closing, and have them break it down for you. All those expenses shown in the referenced screen shot do add to your cost basis. The only one I question is the Land Survey, as that is only deductible if it was a requirement of loan approval.
Typically, if it's shown on the closing statement, it's usually because it was a requirement.