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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.
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‎June 3, 2019
1:08 PM