I recently purchased a rental unit. How do I account, in Turbo tax Premier for closing cost items as Flood Cert., Tax Service fee, Title , Settlement Fee, Wire fee?

[CathiM · Accepted solution]

Add those closing costs to your purchase price. Enter the total as your cost for the property in TurboTax.

In the Assets/Depreciation section, you enter your total cost for the Rental Asset (Rental Real Estate Property) on the screen, Tell Us About This Rental Asset.  You will see a box for Cost:, enter the total (purchase price plus closing costs) there.