Rental Property = are closing costs a depreciable asset?

[ramsgusom]

2018 I first converted personal residence to rental. 

On turbotax I use the purchase price (subtract value of land) to get the basis for 27.5 year depreciation (to offset rental income). But someone told me that I can add up my closing costs and record it as a depreciable asset over 27.5 years. Is that right??? How do I do this?

[KatrinaB]

Some of the closing costs can be deducted and some can be added to the property basis and be depreciated as part of the purchase price. Please view the answer below provided by a fellow TurboTax agent for instructions on how to include your closing costs.

https://ttlc.intuit.com/replies/5653733