You're on the right track with capitalizing fees like title fees, title insurance, and escrow closing costs. These should typically be recorded as part of the cost of the property, rather than a separate Closing Costs account. They are usually categorized under a Fixed Asset account for the property itself, as they contribute to its acquisition cost.
As for the premium tax (8%) in KY, it depends on whether it's a one-time tax or an ongoing obligation. If it's a one-time tax related to the purchase, it should also be included in the property’s cost (capitalized). However, if it's an annual property tax, then it should go into a Property Tax Expense account rather than being capitalized as an asset.
