Investors & landlords

Your adjusted basis in the rental should all be listed on the rental schedule.

It would be the land, building, and value of any other assets that are still being depreciated.  

You did not say how you first acquired the rental, but I am going to assume you bought it.

Then it would be the cost of the rental building less the depreciation taken over the years.

So say you paid $120K, 9 years ago.  The closing costs were $2K, and some improvements were made 4 years ago that costs $25K.

Your entire costs would then be $147K (120+2+25) then minus the depreciation taken over the last 9 years, so say that is $23K so your adjusted basis in my example is $124K.  

If you look at detailed depreciation schedule do not overlook the land, as it may (or may not) be listed there.  The land is part of the adjusted basis also and has no depreciation on it.