One clarification that I wanted to make on the point @Carl made is I think the COST and COST OF LAND boxes will have slightly different values entered into the tool this time time because I am renting the entire home out this time. It would be using the same underlying cost assessment as before but for COST OF LAND instead of being 2/3 of that value (since initially I was renting out 2/3 of the home), it would now be the total land value at that original time. Is that correct? Similarly the actual building COST value would be not the 2/3 cost value I entered, but the full cost value minus the depreciation already claimed.
Again this is under the assumption I am going with the adjusted cost basis being lower than FMV.
