Adjusted basis is calculated by taking the original cost of the property, then add the cost of improvements and subtracting any deductions taken for depreciation.

Based on the your numbers your profit should be:

    Selling price                                    217,000

    Less Selling Expenses                  (  28,960)

    Net Sales                                         188,040

 Adjusted basis

    Purchase Price                              (186,000) 

    Profit on the Sale of Home            31,000

However, we will need more information to really be of help to your specific situation. For one, you don't seem to own the home for the minimum five year period required for you to be eligible for the exclusion of gain on sale of personal residence. Also, was the property a rental and did you deduct depreciation which may also affect your profit? Also, you may also want to consider other additional improvements made to the property to get a step up on your adjusted basis. Check this Turbo Tax article out for further information. 

@VictorW9 - the rule is living in the home for at least two of the last five years.  The rule is not living in the home for 5 years.

if the taxpayer has lived in the home for 2 of the last 5 years and the profit is below $250,000, there is no reporting requirement. Since he purchased the home in 2016 and assuming he lived there for 24 of those months between 2016 and 2019, nothing to report on the tax return.

Also, the selling expenses are questionable - because the taxpayer states they are on the 'new purchase' which has nothing to do with this sale. 

regardless, it's still under $250,000

@NCperson - I stand corrected. The rule is that you have to live in your home for two years for you to qualify for the exclusion of gain on the sale of personal residence. Thank you.