How to Account for Closing Costs?

[Andrew McAfee]

I just bought my first rental house, and I am not sure how to account for expenses for first year accounting.  I understand how expenses are calculated for 2nd year.  I have been researching and have read mixed results.  Not sure if these are depreciated or amortized over the life of the 30 year loan?

Specifically, how do I account for the following:

-Lender Fees (flat rate/no points)

-Appraisal

-Title Company Fees & Title Policies

-Taxes and Government Fees

-City and County Taxes

-Wire Fees

-Initial funding of escrow account for taxes/insurance

Thanks!

[Basit Siddiqi]

@Andrew McAfee

Sometimes home insurance is also paid at closing. That should be currently expensed.