I paid an appraisal fee for a property I purchases outside of closing. My understanding is this is added to the property basis for depreciation. Where do I enter that?

My understanding is that because the appraisal fee was paid outside of closing, it's added to the property basis, which factors into the depreciation. Would that fall under TT's Land Survey category?

1860

Level 15

May 31, 2019 7:32:32 PM

Yes it does get added to the basis of your property you purchased. You can just add it to a category when you add the closing costs paid at closing.

For your tax records you want to keep this some where how the total cost was arrived at for the property.

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I paid an appraisal fee for a property I purchases outside of closing. My understanding is this is added to the property basis for depreciation. Where do I enter that?