sharp_rob
New Member

Purchased new rental property. In TurboTax "Purchase Price" do I enter purchase price or the cost basis? I had to replace the roof and add insulation before renting.

When entering the purchase price, TurboTax doesn't give additional information about cost basis. 

Do I enter the price of the home? 

The price of the home plus closing costs? 

The price plus closing plus renovation/repairs (i.e. cost basis)? 

I had almost $16k of work to complete to make it livable... 

Thank you! This forum has been a GREAT help.