I bought a property in 2022 and am trying to figure out which of the costs I need to include in the cost basis now that Im renting the property.
Turbotax is asking for the following:
- Abstract and recording fees
- Legal fees, title search, document prep
- Land survey
- Title insurance
- Transfer or stamp taxes
- Expenses you paid for the seller
My Settlement statement has the following as the debt I had to pay for;
Loan charges
-Application fees
-Lender fees
-Appraisal Fee
-Inspection Fee
-Condo Questionnaire
-Credit Report
-Debt Report
Government Recording and Transfer Charges
-Recording fees
Title Charges
-Lenders Tile Policy
-Settlement or Closing Fee
-MLC
-Tiltle Exam
-Owners title policy
