@robertw65 , TT automatically transfers the numbers to the Sale of Business Property section and generates Form 4797, even if you enter the sale info in the Rental expense. Within TT there are 2 sections where you can enter the rental sale details, and these are entered somewhat differently. But it ends up in the same place. I somehow find entering the details in the Sale of Business Property section easier.
Also, you cannot (and should not) update the cost basis in the rental section. It will screw up your depreciation. There are many threads on that topic. Hence @DianeW777 has propsed the approach to add the difference between rental basis and actual cost as sales expense. I am yet to try it out.
You have mentioned adding the original closing and refinance cost to the basis. I wasn't aware I could do that. These are recording, title, attorney, etc.?
