Hello Carl. I understand all the steps that you are mentioning. I have a similar situation than OP. Are selling costs added to the cost basis?? I can't find any information on it. Also, Do you still need to fill the form 4797? Every time that I research for rental property on the internet they said I need to fill this form and this is under another income section> Sell of a business property. Any help will be appreciated!! Thank you!
