Hello TurboTax community
For a second property sold (non-rental), does the mortgage interest paid on it along with the yearly real estate taxes paid on it count towards the adjusted cost basis for it?
I've accounted for the initial purchase, settlement costs, permanent repair costs and initial sales transfer tax at time of settlement - but am I able to include the mortgage interest and the annual real estate taxes into that adjusted cost basis?
If yes, please include IRS.gov reference too if you could.
Thanks in advance
