If you did not sell the home then the cost basis will not be entered on your tax return. You will compute the cost basis and keep that information with your records to be used when you do sell the property.
Here are the items to add to the cost of the property to compute your cost basis:
- title fees,
- legal fees,
- recording fees,
- survey fees, and.
- any transfer or stamp taxes you pay in connection with the purchase.
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