Background:
I have a property that I sold on Land Contract. I needed to visit the property and incurred expenses related to travel, food and certain materials at the end of 2020 to inspect the property and ensure its safety and security while I worked with the land contract buyers for taking back possession of the property (repossession didnt happen until 2021). Since the very beginning, initially by my CPA and later by me, I have reported the income from the land-contract finance as interest-only income (seller financed).
What I would like to do -
Deduct these expenses against this property versus a general deduction. I called TurboTax support and they told me that I could deduct these expenses as "other" but this goes towards the total deductions versus expenses specifically for this property. TurboTax then weighs itemized versus standardized deductions and recommends standard deductions but I would like to treat this as an expenses against my interest income versus the deduction. In other words, I would like for this to be taken off the property itself since it was expenses related to the property inspection, safety, security.
What do I need to do in Turbo Tax to achieve this goal of writing off the expense (similar to how one would write off expenses in a rental property) rather than being able to take it as a deduction?
