jchan
New Member

Determine cost basis of a rental property live in 8 years

I purchase a house 380K in 2010 and last year May 2018 moved to a new house and rental old house in July. 

 

I had the house appraised in August (600k). how do I determine cost basis for this house ? 

 

Based on 380K ? Land or building 

Based on 600K ? Land or building