Help determining basis for rental property 2023 taxes

[dcisfun5]

Hi, we have a Closing Disclosure document, not a HUD. Turbotax is asking for the following escrow fees for my rental property.  We purchased it in 2017 as a primary residence and converted it to a rental August 2023. 

A Abstract and Recording Fees
B Legal Fees, Title Search, Document Preparation
C Land Surveys
D Title Insurance
E Transfer or Stamp Taxes
F Expenses You Paid for the Seller

Can you help me figure out where the fees we paid below fit into the categories above? Some make sense but others I cannot determine where they fit.

1.  Origination Charges - Commitment Fee
2. Appraisal Fee
3. Condo Certification Fee
4. Credit Report Fee
5. Flood Certification Fee
6. Title Abstract orTitle Search
7. Title- Closing Letter
8. Title - Courier
9. Title - Lender Title Insurance
10. Title - Post Clsoing Letter
11. Title - Settlement or Closing Fee
12. Title - Title Binder Fee
13. Title - Title Examination Fee
14. Recording Fees
15. City/County Tax/Stamps
16. Homeowners Insurance Premium
17. Prepaid Interest
18. Homeowners Insurance
19. Property Taxes
20. HOA Dues
21. HOA Transfer Fee
22. Tax Certificate
23. Title- Owners Title Insurance 

[AmyC · Accepted solution]

You are not dividing things into categories. You converted the house from personal to rental. Mark the house as a conversion and the date.  I started answering and realized you are just adding totals to get the basis of the house for depreciation. Most of the items will all be added together and added to your purchase price. 

You will add the house as an asset. The program will subtract out the land value and depreciate the house for you. You want to take the depreciation since it is part of the sale calculation - whether you take it or not.

I marked the ones to not use. You can add the rest together and add it to your purchase price.

1. Origination Charges - Commitment Fee - this includes the points for mortgage - part of the basis
2. Appraisal Fee - legal fee
3. Condo Certification Fee - legal fee
4. Credit Report Fee -not part of the basis, related to finance, not purchase
5. Flood Certification Fee - legal fee
6. Title Abstract or Title Search - legal fee
7. Title- Closing Letter
8. Title - Courier -not part of the basis
9. Title - Lender Title Insurance
10. Title - Post Closing Letter -not part of the basis
11. Title - Settlement or Closing Fee
12. Title - Title Binder Fee
13. Title - Title Examination Fee
14. Recording Fees
15. City/County Tax/Stamps
16. Homeowners Insurance Premium - not part of the basis
17. Prepaid Interest - not part of the basis
18. Homeowners Insurance - not part of the basis
19. Property Taxes - not part of the basis
20. HOA Dues - not part of the basis
21. HOA Transfer Fee - not part of the basis
22. Tax Certificate
23. Title- Owners Title Insurance

[dcisfun5]

Thank you so much. This is very helpful!

Can you help me understand why the below ones are not part of the basis if they related to Title? I realized I had some typos and made the edits below in case it makes any difference. 

8. Title - Courier/Express Mail Fee -not part of the basis

10. Title - Post Closing Letter  Fee-not part of the basis

[DianeW777]

The fees above were not part of creating or posting title to the property, and seem like information documents for you, please review the list of items in the following publication (pages 2 & 3). If you believe, after your review they directly relate to the purchase of the property, you can decide to add them in.  Be sure they are NOT considered loan fees, which your closing agent can verify.

• IRS Publication 551

@dcisfun5